By Arun Kumar
Washington, July 23 (IANS): Seven Indian companies headed by Indian Oil figure in this year's Fortune Global 500 list of the world's 500 largest companies in 36 countries topped by retail giant Walmart.

Together, these companies employing 65 million people worldwide generated $31.2 trillion in revenue and $1.7 trillion in profits in 2014, according to the list compiled by the US business magazine.

Companies are ranked by total revenue for their respective fiscal years ended on or before March 31, 2015.

Heading the Indian companies on the list was Indian Oil ranked 119th with revenue of about $74 billion. It was followed by Reliance Industries (158) with $62 billion and Tata Motors (254) with $43 billion.

State Bank of India (260) came next with revenue of $42 billion followed by Bharat Petroleum (280) with $40 billion, Hindustan Petroleum (327) with $35 billion and Oil and Natural Gas (449) with $26 billion.

While Indian Oil, Reliance, Bharat Petroleum, Hindustan Petroleum, and Oil and Natural Gas slipped in rankings from the previous year, Tata Motors and SBI improved in rankings.

Walmart with $485 billion in revenue and $16 billion in profits retained its top spot.

Chinese petroleum refining giant Sinopec Group came next followed by the Netherlands-based Royal Dutch Shell ranked third.

China National Petroleum and Exxon Mobil make up the top five.

The US is home to 128 of the 500 global companies, including Apple (15), JP Morgan Chase (61), IBM (82), Microsoft (95), Google (124), Pepsi (141), Intel (182) and Goldman Sachs (278).

China has close to 100 companies on the list, including Bank of China (45), China Railway Engineering (71) and China Development Bank (87).