The largest cooperative network in the world IFFCO has been consistent in maintaining its position in the list of Fortune 500 companies in India. It is the only cooperative in the country to figure in the first 300 list in 2014- a matter of huge satisfaction for the votaries of co-operative movement.
IFFCO maintained its place in the first 100 by securing 53rd rank once again. IFFCO Managing Director who has been slogging hard to take the cooperative giant to greater heights was a happy man. He tweeted soon enough “Glad to share dat #IFFCO retained its position in d top100 companies of #Fortune500 #India listing. 53rd position vid only #coop in top 300.”
His tweet soon began viral with followers thanking him for the achievement and re-tweeting it worldwide. State-run Indian Oil Corp has emerged as the country’s biggest company in terms of annual revenue, followed by Mukesh Ambani-led private sector giant Reliance Industries at the second place, as per an annual list of Fortune 500 companies in India.
This year’s list of the country’s 500 largest corporations, compiled by the global business magazine Fortune’s Indian edition, features as many as 57 new entities.
All the 500 firms together recorded a collective turnover of Rs 45,79,911.38 crore in the latest financial year.
Other entities in the list are Hindustan Petroleum (5th rank), Tata Motors (6th), Oil & Natural Gas Corp (7th), Tata Steel (8th), Hindalco Industries (9th) and Coal India (10th).
Congratulations for IFFCO’s continued march to progress! It restores faith in the possibility of a world dominated by successful cooperative business model.