RIL has attained a rank of 106 in the latest list, recording an improvement of 42 positions

Diversified conglomerate Reliance Industries (RIL) has become the top-ranked Indian company to feature on the latest Fortune Global 500 list.

The oil-to-retail major has toppled state-run Indian Oil Corporation (IOC) as the top-ranked Indian company.

RIL has attained a rank of 106 on the latest list, recording an improvement of 42 positions from its previous ranking.

On the other hand, IOC improved its position to 117th rank, registering a jump of 20 spots.

Other Indian companies in the Fortune Global 500 list include ONGC (160), State Bank of India (236), Tata Motors (265), Bharat Petroleum (275) and Rajesh Exports (495).

The 2019 ranking was led by Walmart, followed by Sinopec Group, Royal Dutch Shell, China National Petroleum and State Grid.