Forbes’ Global 2000 list has Mukesh Ambani’s Reliance at the top of India Inc., and LIC makes its debut there.

On Forbes' most recent Global 2000 list of publicly traded firms globally, Mukesh Ambani's Reliance Industries Limited (RIL) rose eight positions on Tuesday to take the 45th slot, the highest position for an Indian company. Sales, profits, assets, and market value are the four parameters that the Global 2000 uses to rank the largest corporations in the world.

For the first time since 2011, JPMorgan, the largest bank in the United States with USD 3.7 trillion in assets, is at the top of the list. With higher deposits and the opportunistic acquisition of the failing First Republic Bank, JPMorgan has recovered stronger from the regional banking crisis this spring. Due to remaining losses in its investment portfolio, Warren Buffett's Berkshire Hathaway, which led the list last year, dropped to position 338 on the most recent list.

Three enormous state-owned Chinese banks are in second place, followed by the Saudi oil giant Aramco. Alphabet, Microsoft, and Apple, three of the biggest names in technology, are in positions 7, 9, and 10, respectively.

With sales of USD 109.43 billion and a profit of USD 8.3 billion, oil-to-telecom giant Reliance is the highest-ranked Indian company at the 45th position. Reliance was ranked above well-known companies including the US-based Procter & Gamble, the German BMW Group, the Switzerland Nestle, the China's Alibaba Group, and more.

It's interesting to note that Life Insurance Corporation (LIC) registered at 363. State Bank of India improved from 105th place in the 2022 rating to 77th place. ICICI Bank is at position 163 (204 in 2022) and HDFC Bank is at position 128 (153 in 2022).

55 Indian companies were listed overall.

The list included three businesses owned by the conglomerate founded by billionaire Gautam Adani, whose group earlier this year came under harsh criticism from a US short seller and cost him the title of third-richest person on earth.

Adani Power at number 1488, Adani Ports & Special Economic Zones at  1598, and Adani Enterprises at  1062 are the three Adani Group companies on the list.