'India houses 54 of the world's most powerful public firms'

Reliance is followed by State Bank of India which is ranked 155 and has a $23.6 billion market value.

The other Indian companies on the list are ONGC ranked 176, ICICI Bank (304), Tata Motors (332), IndianOil (416), HDFC Bank (422), Coal India (428), Larsen & Toubro (500), Tata Consultancy Services (543), Bharti Airtel (625), Axis Bank (630), Infosys (727), Bank of Baroda (801), Mahindra & Mahindra (803), ITC (830), Wipro (849), Bharat Heavy Electricals (873), GAIL India (955), Tata Steel (983) and Power Grid Corporation of India (1,011).