Eight Indian cos in Fortune 500 list; IOC, Reliance lead pack

Out of the eight, five are state-run entities. With an annual revenue of USD 86,016 million, Indian Oil has cornered the 83rd spot up from 98th place last year.

Mukesh Ambani-led Reliance Industries is the first Indian private firm to made into the top 100 list. With an annual revenue of USD 76,119 million, RIL, has improved its ranking to 99 from previous year's 134.

Besides IOC and RIL, the other Indian companies in the list are steel-maker Tata Steel, auto company Tata Motors, oil entities Bharat Petroleum, Hindustan Petroleum and Oil & Natural Gas and public sector bank State Bank of India.

The list also features Citigroup, ArcelorMittal, led by people with Indian roots.

Fortune's global list of world's 500 largest companies for 2012, compiled on the basis of latest annual revenue figures, is topped by Royal Dutch Shell ending the retail major Wal-Mart Stores's two-year winning streak. The energy giant had annual revenues of USD 484,489 million.

At the second place is energy firm Exxon Mobil, followed by Wal-Mart Stores, energy company BP, and oil producer and refiner Sinopec Group.

Bharat Petroleum featured at 225th place, followed by Hindustan Petroleum (267), SBI (285), Tata Motors (314), ONGC (357) and Tata Steel (401).

According to magazine, Bharat Petroleum had the revenues to the tune of USD 44,582 million, followed by Hindustan Petroleum (USD 38,885 million), SBI (36,950 million), Tata Motors (USD 34,575 million), ONGC (30,746 million)and Tata Steel (USD 27,739 million.)

Interestingly, the 2011 list also featured the same eight Indian companies.

Last year, Bharat Petroleum was at the 272nd position, followed by SBI (292), Hindustan Petroleum (336), Tata Motors (359), ONGC (361) and Tata Steel (370).

American companies have cornered 132 places in the list, followed by China, with 73 seats and then Japan with 68 seats.