MakeMyTrip, IRCTC make it to the Fortune India Next 500 list

Guess which two Indian companies managed to make it to the Fortune Next 500 this year? MakeMyTrip and IRCTC. Yes, we ain’t kidding. As per an Economic Times report, the companies, with a majority of mid-sized organizations are capable of breaking into the Fortune India 500.

iPhone distributor in India, Redington tops the list with annual revenue of over Rs 1,690 crore followed by Inox Wind with annual takings of Rs 1,689 crore, ISMT (Rs 1,685 crore), Emcure Pharmaceuticals (Rs 1,683.5 crore) and Orientcraft (Rs 1,683 crore).

In the lists of 500 organizations, 434 are privately held and contribute 86% of the total revenue and also the companies are biased towards manufacturing rather than providing services.
Along with that, the sectors that are dominating the entire listings are basic materials, food and agriculture products, pharmacy and information technology; while the laggards include capital goods and iron and steel.


The top 10 however, includes Orient Paper & Industries, FAG Bearings India, Lycos Internet, Vatika and Cochin Shipyard.

Fortune, in a statement said, "The 434 private companies on the list, which account for 86 per cent of the total revenue, have seen 6.3% growth, while the 31 government-owned companies with 6.9% share have seen a 7.7% decline. There are 35 foreign-owned companies on the list with a 7.1% share have seen a 7.9% growth."

Quoting the 500 companies, the magazine said, "These companies keep the wheels of the economy moving. They are not the massive conglomerates that seem to define India Inc in the media or public consciousness."

These are also the companies that account "for a good chunk of India's industry, often these are the companies that keep the larger, Fortune India 500 companies in the game by contracting out services or providing components".