State-owned oil and gas company, Indian Oil Corporation Ltd which also happens to be the country

's largest commercial public sector enterprise occupies the numero uno position followed by Mukesh Ambani led RIL in the first ever Fortune India 500 list. The next three slots are all occupied by public sector firms State Bank of India, Bharat Petroleum and Hindustan Petroleum respectively. The first ever Fortune India 500 list which is out in the December 2010 issue of FORTUNE India features 10 PSUs among the top 20 companies. ''Fortune 500 is perhaps the best-known brand in business journalism and is considered as the ulitmate benchmark of business success. We are extremely proud to present the first ever Indian Fortune 500 list and are confident that the list will be an eagerly awaited one every year,'' said ABP President English Magazines Pavan Varshnei. The list reveals that Indian companies have become substantially bigger in the last ten years with the average revenue of a company on the Fortune India 500 list standing at Rs 7,632.5 crore. Eight of the largest corporations on the list, led by IndianOil, are also on the Fortune Global 500 list. The total revenue of the Fortune India 500 companies stands at Rs 38,16,239.40 crore. That's more than 60 per cent of India's total GDP. The Fortune India 500 is an annual list published by FORTUNE India magazine. ''The Fortune India 500 is the most definitive roster of India's most successful corporations and is a must-keep issue for executives,'' said FORTUNE India Magazine Editor D N Mukerjea. It ranks the top 500 Indian companies (publicly and privately-held companies for which revenues are publicly available) by their gross revenue after adjustments. Other individual data points include year on year change on total revenues; net operating income; profits; assets; networth; profit as percentage of revenues, assets and networth; dividend; and total salaries. The issue also ranks top players across 42 different sectors including airlines, automobiles, banking, cement, consumer durables, pharmaceuticals, FMCG, infrastructure and development, media, oil and gas, power, real estate, retail and telecommunications among others. The other companies which feature in the top 20 apart from the above five includes ONGC, Tata Steel, Tata Motors, Hindalco Industries , ICICI Bank, Coal India, NTPC, Larsen & Toubro, Bharti Airtel, SAIL, Essar Oil, BHEL, MRPL, Mahindra & Mahindra and BSNL respectively.

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