In the recent Fortune 500 list, LIC, Life Insurance Corporation, beat Reliance Industries. The nation’s biggest life insurance company, with $97.26 billion and a profit of $55.8 million, has got 98th place, while Reliance has shifted to 104th place from 51 on the 2022 list.
This is the first time when LIC has made its place on the list. Reliance, with $93.98 billion revenue and net profit of $8.15 billion in the last year, has been on the list for 19 years, which is a great achievement.
The Fortune 500 list, topped by Walmart, has nine Indian companies, of which five are state-owned, and four are from the private sector.
Top 10 companies on the list
| Company | Revenue ($M) | Profit ($M) |
| Walmart | 572,754 | 13,673 |
| Amazon | 469,822 | 33,364 |
| State Grid | 460,616 | 7,137 |
| China National Petroleum | 411,692 | 9,637 |
| Sinopec Group | 400,313 | 7,137 |
| Saudi Aramco | 400,399 | 105,369 |
| Apple | 365,817 | 94,680 |
| Volkswagen | 295,819 | 18,1186 |
| China State Construction Engineering | 293,712 | 4,4443 |
| CVS Health | 292,111 | 7,910 |
In the 2022 list, several significant changes are noticed seen in the ranking. Indian Oil Corporation rose 28 places and reached 142 ranks, while Oil and Natural Gas Corporation climbed 16 places to 190. Of nine Indian companies, the list has two Tata groups ━ Tata Motors at 370 and Tata Steel at 435the place.
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The next name is Rajesh Exports, got 437th rank, and State Bank Of India climbed 17 places to rank 236 places. On the other hand, Bharat Petroleum Corporation Ltd. climbed 19 places to 295.
The listing has been done based on the revenue and profits of the companies for their respective fiscal years ended on or before 31 March 2022.
