Life Insurance Corporation (LIC) which was recently registered has entered the list of the latest 500 global 500, while Reliance Industries have jumped 51 places. The largest living insurance company in the country with revenues of USD 97.26 billion and a profit of USD 553.8 million, ranked 98th on the Fortune 500 list that was just released.
Reliance Industries jumped 51 places to the list of 2022. This is the first sightsee of LIC in the list, which ranks company based on sales. Reliance, with an income of USD 93.98 billion and a net profit of USD 8.15 billion in the last year, has been on the list for 19 years.The list, which was closed by US retailers Walmart, has nine Indian-five companies including state-owned, and four from the private sector.
Only LIC’s debutant, which came out with its last fiscal IPO, ranked higher than dependence between Indian corporations. Indian Oil Corporation (IOC) rose 28 places to the ranking of 442 while Oil and Natural Gas Corporation (OngC) rose 16 places to 190. This list has two Tata Group – Tata Motors companies in 370 and Tata Steel in the 435 place. Rajesh exports in the 437th rank are other Indian private companies on the list.
State Bank of India (SBI) rose 17 places for ranking of 236 and Bharat Petroleum Corporation Ltd 19 places 295. Fortune Global 500 List ranks company with a total revenue for the fiscal year each ending on or before March 31, 2022.Rebound from Covid-19 created a big tailwind for the largest company in the world with income,” Fortune said. Aggregate sales for Fortune Global 500 reached USD 37.8 trillion, an increase of 19 percent – the highest annual growth rate in the list history.
Walmart landed at No. 1 for the ninth year in succession, followed by Amazon, which reached the highest ranking ever. Chinese energy giant network, Chinese national oil, and Sinopec complement the top five. For the first time, revenue from 500 global companies in Greater China (including Taiwan) exceeded the income of US companies on the list, accounted for 31 percent of the total. Companies that form our annual ranking from the largest company in the world also reap the advantages of record removal in 2021. But this year’s chaos has faced the leaders of Fortune Global 500 with a series of crisis recently from them as well as politics as well as economics,” he added.