The first ever Fortune India 500 list is out in the December 2010 issue of FORTUNE India.

Indian Oil Corporation tops the FORTUNE India 500 rankings and Reliance Industries is listed
at No. 2. The next three places are taken by State Bank of India, Bharat Petroleum and Hindustan
Petroleum respectively. The first Fortune India 500 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% of India’s total GDP. The
Fortune India 500 is an annual list published by FORTUNE India magazine. It ranks the top 500
Indian companies (publicly and privately-held companies for which revenues are publicly
available) by their gross revenue after adjustments.

FORTUNE India, FORTUNE’s sixth international edition, is the first ever issue to feature the
500 largest listed companies of China and the 50 largest corporations of BRIC (Brazil, Russia,
India, and China) nations, along with the FORTUNE India 500.

The special issue presents a deeper analysis with the Fortune China 500 and the BRIC 50 list of
the biggest companies. Magazine reveals that the largest FORTUNE India 500 company is 266
times the size of the smallest, much the same as in China, where the top company is 382 times
the size of the 500th while the disparity on the U.S. Fortune 500 list is much lower: The largest
(Wal-Mart, $408 billion) is just 100 times bigger than the smallest (Blockbuster, $4.1 billion).

Commenting on the first Fortune India 500 list, Pavan Varshnei, President – English Magazines,
ABP said, “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”.

The Fortune India 500 ranking is based on total revenues of the organisation. 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 top ranking companies of Fortune 500 India list are:

1. Indian Oil Corporation
2. Reliance Industries
3. State Bank of India
4. Bharat Petroleum
5. Hindustan Petroleum
6. ONGC
7. Tata Steel
8. Tata Motors
9. Hindalco Industries
10. ICICI Bank
11. Coal India
12. NTPC
13. Larsen & Toubro
14. Bharti Airtel
15. SAIL
16. Essar Oil
17. BHEL
18. MRPL
19. Mahindra & Mahindra
20. BSNL

D.N. Mukerjea, editor, FORTUNE India Magazine said “The Fortune India 500 is the most
definitive roster of India’s most successful corporations and is a must-keep issue for executives.
Along with a comprehensive ranking, the issue also provides insights into the list vis-à-vis China
and other fast-growing nations. We are confident that these insights will help Indian businesses
identify growth paths and learn from companies that may face similar challenges in
environments across the world”.

Also this issue examines how China has dethroned Japan as the economic giant in the Fortune
Global 500 ranking. The findings reveal that the number of US companies in the global Fortune
500 have dropped by 7%; the number of Japanese companies have dropped by 52%, while the
number of Chinese companies have grown by 15 times over the last 15 years. The overall trend
of the rise of China in the world economy is mirrored in the list of top 50 companies in the BRIC
region. Among the 12 largest companies from BRIC there are 7 Chinese, 2 Russian, 2 Brazilian
and only one Indian company.

Will India be able to make its presence felt in the world economy? A report entitled
“Tomorrow‘s Goliaths” studies what it will take for companies such as ICICI, Airtel and
Hindalco to be a part of the Global Fortune 500 list.