Fortune 500 List: LIC's entry in Fortune 500 list, Reliance Industries took a giant leap
LIC is the largest insurance company in the country with revenue of $97.26 billion and profit of $553.8 million. LIC was ranked 98th in the recently released Fortune 500 list. Reliance has been on the list for 19 years with a revenue of $93.98 billion and a net profit of $8.15 billion.
Staff Editor 
Reliance Jumps 51 Places In Fortune 500 List LIC New Entrant: The recently listed Life Insurance Corporation (LIC) is included in the latest list of Fortune Global 500. At the same time, Reliance Industries has jumped 51 places in this list. LIC is the largest insurance company in the country with revenue of $97.26 billion and profit of $553.8 million. LIC was ranked 98th in the recently released Fortune 500 list.
On the other hand, Reliance Industries jumped 51 places to 104th in the list of 2022. Listed companies are ranked on the basis of their sales in the Fortune 500 list. Reliance has been on the list for 19 years with a revenue of $93.98 billion and a net profit of $8.15 billion. The US retail company Walmart is at the top of this list.
There are a total of nine Indian companies in the list, out of which five are in the public sector and four are in the private sector. Only LIC is above Reliance among Indian companies. Indian Oil Corporation (IOC) jumped 28 places to 142nd position. Oil and Natural Gas Corporation (ONGC) climbed 16 places to 190.
Two Tata group companies in this list - Tata Motors (ranked 370) and Tata Steel (ranked 435). Rajesh Exports is another private Indian company with 437th position in the list. State Bank of India (SBI) climbed 17 places to 236th position and Bharat Petroleum Corporation Limited climbed 19 places to 295th position.
The Fortune Global 500 list ranks companies on the basis of total revenue for the fiscal year ended on or before March 31, 2022. Chinese energy giant State Grid, China National Petroleum and Sinopec made it to the top five. For the first time, the total revenue of companies in Greater China (including Taiwan) exceeds the total revenue of US companies on the list.
