Seven Indian companies have made it to the latest Fortune 500 list of the world's biggest corporations in terms of revenue, with state-owned Indian Oil Corporation (IOC) continuing to be the highest ranked Indian firm and Reliance Industries (RIL) jumping 55 places.

In the list topped by retail giant Walmart, Indian Oil Corporation with 23 per cent rise in revenues at USD 65.9 billion was ranked 137th, up from the 168th position in 2017, Fortune said.

Mukesh Ambani-led RIL was the top private sector company from the country as it jumped from 203rd rank last year to 148th. It had a revenue of USD 62.3 billion in 2017-18.