India’s biggest steel company, Tata Steel occupies the 231^st rank and not 315^th as was earlier mentioned on the 2008 List of Global Fortune 500 Companies.  This error occurred because Tata Steel announced its annual results after crossing the publication deadline of the listing of the companies.

The Fortune magazine had, therefore, ranked Tata Steel 315th based on its consolidated nine months' financial results. It was the Indian steel major’s first time entry into the prestigious Fortune 500 list. Explaining the reason for this, the Fortune magazine has stated on its website that the Tata Steel Company should actually been have placed at the 231st and not 315th.

The Fortune magazine’s website reads, ‘Tata Steel's revenue for the fiscal to March 31, 2008 - released by the company after the Global 500 publication deadline - was $32.8 billion. Had the information been available, the company would have been placed 231st on the list. The company ranked 315th in the listing based on a revenue of $25.7 billion to March 31, 2007.’