Mumbai: Public sector insurance company in the country, Life Insurance Corporation (LIC) has become the top-ranked Indian firm on the latest Fortune Global 500 list. Fortune Global 500 list ranks companies by total revenues for their respective fiscal years ended on or before March 31, 2022.
LIC, the largest and biggest insurance provider in the country is ranked 98th on the Fortune 500 list. LIC has a revenue of $ 97.26 billion and a profit of $ 553.8 million.
8 other Indian companies including Reliance Industries, Indian Oil Corporation (IOC), Oil and Natural Gas Corporation (ONGC) and others were included in the list. 5 of them are state-owned firms and 4 are private owned firms.
Reliance Industries jumped 51 places to 104 on the 2022 list. Reliance Industries with revenue of $ 93.98 billion and a net profit of $ 8.15 billion in the latest year, has been on the list for 19 years.
Indian Oil Corporation (IOC) rose 28 places to 142nd rank while Oil and Natural Gas Corporation (ONGC) climbed 16 places to 190. Tata Motors is at 370 and Tata Steel at 435th spot. Rajesh Exports is at 437th rank. State Bank of India (SBI) climbed 17 places to rank 236th and Bharat Petroleum Corporation Ltd jumped 19 places to 295.
US firm, Walmart is at No. 1 for the ninth straight year. It is followed by , Amazon. Chinese energy giants State Grid, China National Petroleum and Sinopec are in the top five.
Here are the top 10 on the Global 500 list:
State Grid (China)
China National Petroleum (China)
Sinopec Group (China)
Saudi Aramco (Saudi Arabia)
China State Construction Engineering (China)
CVS Health (US)
#LIC breaks into Fortune 500 list, Reliance Industries jumps 51 places
The nation's biggest life insurer with revenue of USD 97.26 billion and a profit of #USD 553.8 million, was ranked 98th on the just released Fortune 500 list.
— Chetna Parmar (@chetnaparmar631) August 4, 2022