India is a rapidly developing country with a mixed economic system, where the government shares ownership in various key industries. Like, seven Indian companies listed in the 2019 Global Fortune 500 index of which four of them are public sector undertakings. Here we are going to study the prominent enterprises of the government of India which are considered to be big and heavy in size and ownership.
Index of 2019 Global fortune 500 is based on revenue generated by companies in 2018. According to the report, Indian Oil's revenues were $77.6 billion dollars, which grew 17.7% over the past year.
India is known to be the world's third-largest energy consumer and the Indian Oil Corporation Ltd. is a country's flagship for the same. The company posses a workforce of over 33,000, and it is also known for its contribution to the national exchequer in the form of duties and taxes.
Which government enterprise comes after the Indian Oil Company?
Bharat Petroleum Corporation Ltd. had earned worth $42.9 billion in revenues in 2018. The State Bank of India, the oldest and worthiest public sector undertaking had generated revenue worth $47.3 billion and have also been ranked as the 236th biggest company in the world. Hindustan Petroleum Corporation Ltd. and Oil & Natural Gas Corporation Ltd. are also among the significant PSUs.
Read more: First Planning Commission of India
