List of largest companies in India

This article lists the largest companies in India in terms of their revenue, according to the American business magazines Fortune and Forbes.

2023 Forbes list

This list is based on the Forbes Global 2000, which ranks the world's 2,000 largest publicly traded companies. The Forbes list takes into account a multitude of factors, including the revenue, net profit, total assets and market value of each company; each factor is given a weighted rank in terms of importance when considering the overall ranking. The table below also lists the headquarters location and industry sector of each company. The figures are in billions of US dollars and are for the year 2023. All 50 companies from India in the Forbes 2000 are listed.

Rank	Name	Industry	Revenue (billions US$)	Headquarters
1	Reliance Industries	Conglomerate	109.43	Mumbai
2	Indian Oil Corporation	Oil and gas	103.42	New Delhi
3	Life Insurance Corporation	Banking	100.35	Mumbai
4	Oil and Natural Gas Corporation	Oil and gas	86.06	New Delhi
5	Bharat Petroleum	Oil and gas	58.84	Mumbai
6	State Bank of India	Banking	56.54	Mumbai
4	HDFC Bank	Banking	25.47	Mumbai
5	ICICI Bank	Banking	23.17	Mumbai
7	HDFC	Financials	19.04	Mumbai
9	Tata Consultancy Services	Infotech	27.9	Mumbai
10	Tata Steel	Iron and steel	30.28	Mumbai
11	Axis Bank	Banking	13.21	Mumbai
12	NTPC Limited	Utilities	21.25	New Delhi
13	Larsen & Toubro	Capital goods	22.62	Mumbai
14	Infosys	Infotech	18.26	Bangalore
15	JSW Steel Ltd	Iron and steel	9.50	Mumbai
16	Vedanta Limited	Metals and mining	16.38	Mumbai
18	Kotak Mahindra Bank	Banking	7.92	Mumbai
19	Hindalco Industries	Metals and mining	24.33	Mumbai
20	Bharti Airtel	Telecommunication	17.12	New Delhi
21	Coal India	Metals and mining	14.03	Kolkata
22	Tata Motors	Automotive	39.04	Mumbai
23	Power Finance Corporation	Financials	10.15	New Delhi
24	HCL Technologies	Infotech	11.19	Noida
25	Wipro	Infotech	10.07	Bangalore
26	Power Grid Corporation of India	Utilities	5.61	Gurgaon
27	Grasim Industries	Diversified	12.35	Mumbai
28	ITC Limited	Consumer Goods	7.91	Kolkata
29	Bajaj Finserv	Financials	8.64	Pune
30	Canara Bank	Banking	12.68	Bangalore
31	Bank of Baroda	Banking	12.06	Vadodara
32	Union Bank of India	Banking	11.28	Mumbai
33	Punjab National Bank	Banking	12.1	New Delhi
34	Mahindra & Mahindra	Automotive	11.59	Mumbai
35	Steel Authority of India	Iron and steel	12.98	New Delhi
36	GAIL	Oil and gas	10.98	New Delhi
37	Indian Bank	Banking	6.17	Chennai
38	Sun Pharmaceutical	Pharmaceuticals	5.10	Mumbai
39	Indian Railway Finance Corporation	Financials	2.55	New Delhi
40	Adani Enterprises	Consumer Goods	7.86	Ahmedabad
41	IndusInd Bank	Banking	5.09	Mumbai
42	Bank of India	Banking	6.26	Mumbai
43	Adani Ports & SEZ Limited	Shipping	2.10	Ahmedabad
44	Adani Green Energy	Renewable energy	0.41	Ahmedabad
45	Rajesh Exports	Gems and jewellery	30.00	Bangalore
46	Asian Paints	Chemicals	3.77	Mumbai
47	Adani Transmission	Utilities	1.49	Ahmedabad
48	Tech Mahindra	Infotech	5.72	Pune
49	Adani Total Gas	Oil and gas	0.35	Ahmedabad
50	Bajaj Auto	Automotive	4.54	Pune
51	DMart	Retail	4.00	Mumbai
52	Adyar Ananda Bhavan	Retail	4.00	Chennai

2021 Fortune list

The 50 largest companies by revenue in 2021 according to the Fortune India 500.

Rank	Name	Industry	Revenue (in ₹ Crore)	Revenue growth	Profits (in ₹ Crore)	Headquarters	State Controlled
1	Indian Oil Corporation	Oil and gas	424,321	13.2%	22,189	New Delhi	Yes
2	Reliance Industries Limited	Oil and gas	410,295	28.2%	36,075	Mumbai
3	Oil and Natural Gas Corporation	Oil and gas	333,143	11.0%	22,106	New Delhi	Yes
4	State Bank of India	Banking	306,528	2.6%	−4,556	Mumbai	Yes
5	Tata Motors	Automotive	301,175	7.9%	8,989	Mumbai
6	Bharat Petroleum	Oil and gas	238,638	13.7%	9,009	Mumbai	Yes
7	Hindustan Petroleum	Oil and gas	221,693	13.4%	7,218	Mumbai	Yes
8	Rajesh Exports	Gems and jewellery	187,748	22.5%	1,266	Bangalore
9	Tata Steel	Iron and steel	147,192	25.3%	13,434	Mumbai
10	Coal India	Metals and mining	132,897	5.3%	7,020	Kolkata	Yes
11	Tata Consultancy Services	Infotech	126,745	3.6%	25,826	Mumbai
12	Larsen & Toubro	Capital goods	122,743	10.6%	7,370	Mumbai
13	Hindalco Industries	Metals and mining	120,428	15.5%	6,083	Mumbai
14	ICICI Bank	Banking	118,969	4.9%	7,712	Mumbai
15	Vedanta Resources	Metals and mining	102,192	30.8%	10,342	London, UK
16	HDFC Bank	Banking	101,344	17.6%	18,510	Mumbai
17	Mahindra & Mahindra	Automotive	96,377	12.2%	7,510	Mumbai
18	NTPC Limited	Utilities	90,144	7.7%	10,544	New Delhi	Yes
19	Bharti Airtel	Telecommunication	86,704	13.0%	1,099	New Delhi
20	Maruti Suzuki India	Automotive	81,978	15.6%	7,880	New Delhi
21	Infosys	Infotech	73,762	3.1%	16,029	Bangalore
22	Nayara Energy	Oil and gas	73,015	10.7%	576	Mumbai
23	HDFC	Financials	72,596	18.9%	16,255	Mumbai
24	JSW Steel Ltd	Iron and steel	70,148	22.6%	6,214	Mumbai
25	Axis Bank	Banking	58,477	1.5%	456	Mumbai	Yes
26	Steel Authority of India	Iron and steel	57,626	28.8%	−281	New Delhi	Yes
27	Punjab National Bank	Banking	57,608	0.7%	−12,130	New Delhi	Yes
28	Grasim Industries	Diversified	57,273	54.9%	2,679	Mumbai
29	Wipro	Infotech	56,986	1.6%	8,003	Bangalore
30	Motherson Sumi Systems	Automotive	56,839	32.7%	1,597	Noida
31	GAIL	Oil and gas	55,503	11.6%	4,799	New Delhi	Yes
32	Bank of Baroda	Banking	54,048	3.1%	−1,887	Vadodara	Yes
33	HCL Technologies	Infotech	51,695	6.3%	8,721	Noida
34	MRPL	Oil and gas	50,209	8.9%	1,993	Mangalore	Yes
35	Canara Bank	Banking	48,743	1.2%	−3,951	Bangalore	Yes
36	ITC Limited	Consumer goods	44,674	1.6%	11,271	Kolkata
37	Bank of India	Banking	44,158	4.8%	−5,961	Mumbai	Yes
38	General Insurance Corporation of India	Insurance	43,555	38.9%	3,146	Mumbai	Yes
39	Kotak Mahindra Bank	Banking	38,813	14.2%	6,201	Mumbai
40	Union Bank of India	Banking	38,413	0.4%	−5,212	Mumbai	Yes
41	Hindustan Unilever	Consumer goods	36,088	7.1%	5,214	Mumbai
42	Vodafone India	Telecommunication	34,855	18.9%	7,766	Mumbai
43	Tata Power	Utilities	33,213	12.8%	2,477	Mumbai
44	Chennai Petroleum Corporation	Oil and gas	33,187	20.0%	927	Chennai	Yes
45	Hero MotoCorp	Automotive	33,141	12.9%	3,720	New Delhi
46	Tech Mahindra	Infotech	32,190	7.6%	3,800	Pune
47	UltraTech Cement	Cement	32,106	23.7%	2,222	Mumbai
48	Petronet LNG	Oil and gas	30,949	23.9%	2,110	New Delhi	Yes
49	Power Grid Corporation of India	Utilities	30,908	16.1%	8,198	Gurgaon	Yes
50	Bajaj Finserv	Financials	30,599	24.9%	2,741	Pune

See also

• List of most valuable companies in India
• List of companies of India
• List of largest employers in India
• List of largest companies by revenue
• List of public sector undertakings in India