LIC has managed to occupy the 98th position for the first time in the Fortune Global 500 list of top global companies for 2022. On the other hand, Reliance Industries has jumped 51 places to the 104th position. Last year, LIC’s revenue was $97.26 billion, while that of Reliance was $93.98 billion. This is a big success for Life Insurance Corporation of India, which was recently listed on the stock market. American retailer Walmart has nine Indian companies on the list, of which five are state-owned and four are privately held. All these companies have made their mark in the whole world with their business.
These are Fortune 500. Indian companies involved in
Indian Oil Corporation climbed 28 places to 142nd position, while Oil and Natural Gas Corporation climbed 16 places to 190th position. The list also has two Tata group companies – Tata Motors and Tata Steel. Tata Motors is at 370th position, while Tata Steel is at 435th position. Rajesh Exports is the second private Indian on the list at 437th position. State Bank of India climbed 17 places to 236th and Bharat Petroleum Corporation Limited climbed 19 places to 295th position.
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How is the ranking determined?
The Fortune Global 500 list ranks companies based on the total revenue generated in the fiscal year ended on or before March 31, 2022. The total sales of Fortune Global 500 companies have reached $37.8 trillion. This is an increase of 19 percent. Walmart has topped the list for the ninth year in a row. It is followed by Amazon, which has achieved the highest ranking ever.
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