India's top five business groups account for nearly 16 per cent of the country's gross domestic product. Their cumulative turnover of Rs 358,793 crore (Rs 3,587.93 billion) during the last fiscal is about 15.94 per cent of the country's GDP [estimated at current prices to have been Rs 2,249,493 crore (Rs 22,494.93 billion) in 2002-03].

India Inc's top heavy character is borne out by the fact that while the top five corporates account for over 15 per cent of the country's output, the cumulative turnover of the top 1,000 corporates, ranked in terms of sales, adds up to only 32.6 per cent of the country's GDP. The data for the top five business houses, however, take into account the group companies.

This performance, however, owes much to the three public sector undertakings among the five companies.

In terms of turnover in 2002-03, Indian Oil Corporation, the country's only Fortune 500 company, leads the pack with Rs 133,124 crore (Rs 1,331.24 billion). It is followed by the Reliance group companies, including Reliance Industries Ltd, Indian Petro Chemicals Ltd and Reliance Energy, with Rs 73,688 crore (Rs 736.88 billion).

Petroleum majors Hindustan Petroleum Corporation Ltd [Rs 54,165 crore (Rs 541.65 billion)] and Bharat Petroleum Corporation Ltd [Rs 48,502 crore (Rs 485.02 billion)] and the Tata group [Rs 49,314 crore (Rs 493.14 billion)] complete the list.

IOC, along with IBP account for nearly 6 per cent of the country's GDP. The two private players in the Top 6, the Reliance and the Tata groups, together account for nearly 5 per cent of India's GDP.

In terms of asset base, Reliance Industries [with total assets of Rs 63,784 crore (Rs 637.84 billion)] and IOC [Rs 55,810 crore (Rs 558.10 billion)] account for nearly 5 per cent of the GDP.