<p>Recently-listed Life Insurance Corporation (LIC) has broken into the latest Fortune Global 500 list, while Reliance Industries has jumped 51 places.</p>.<p>The nation's biggest life insurer with revenue of $97.26 billion and a profit of $553.8 million, was ranked 98th on the just released Fortune 500 list.</p>.<p>Reliance Industries jumped 51 places to 104 on the 2022 list.</p>.<p>This is the first outing of LIC on the list, which ranks listed companies by sales. Reliance, 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.</p>.<p>The list, topped by US retailer Walmart, has nine Indian companies -- five of them state-owned, and four from the private sector.</p>.<p>Only the debutant LIC, which came out with its IPO last fiscal, was ranked higher than Reliance among the Indian corporates.</p>.<p>Indian Oil Corporation (IOC) rose 28 places to 142nd rank while Oil and Natural Gas Corporation (ONGC) climbed 16 places to 190.</p>.<p>The list had two Tata group firms -- Tata Motors at 370 and Tata Steel at 435th spot. Rajesh Exports at 437th rank was the other private Indian company on the list.</p>.<p>State Bank of India (SBI) climbed 17 places to rank 236th and Bharat Petroleum Corporation Ltd 19 places to 295.</p>.<p>Fortune Global 500 list ranks companies by total revenues for their respective fiscal years ended on or before March 31, 2022.</p>.<p>"The rebound from Covid-19 created a huge tailwind for the world's largest companies by revenue," Fortune said.</p>.<p>Aggregate sales for the Fortune Global 500 hit $37.8 trillion, an increase of 19 per cent -- the highest annual growth rate in the list's history.</p>.<p>Walmart landed at No. 1 for the ninth straight year, trailed by Amazon, which reached its highest ranking ever. Chinese energy giants State Grid, China National Petroleum, and Sinopec rounded out the top five.</p>.<p>For the first time, revenues from Global 500 companies in Greater China (including Taiwan) exceeded revenues from US companies on the list, accounting for 31 per cent of the total.</p>.<p>"The corporations that make up our annual ranking of the world's largest companies also reaped record-busting profits in 2021. But this year's turmoil has confronted the leaders of the Fortune Global 500 with a new set of crises -- many of them political as well as economic," it added.</p>
<p>Recently-listed Life Insurance Corporation (LIC) has broken into the latest Fortune Global 500 list, while Reliance Industries has jumped 51 places.</p>.<p>The nation's biggest life insurer with revenue of $97.26 billion and a profit of $553.8 million, was ranked 98th on the just released Fortune 500 list.</p>.<p>Reliance Industries jumped 51 places to 104 on the 2022 list.</p>.<p>This is the first outing of LIC on the list, which ranks listed companies by sales. Reliance, 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.</p>.<p>The list, topped by US retailer Walmart, has nine Indian companies -- five of them state-owned, and four from the private sector.</p>.<p>Only the debutant LIC, which came out with its IPO last fiscal, was ranked higher than Reliance among the Indian corporates.</p>.<p>Indian Oil Corporation (IOC) rose 28 places to 142nd rank while Oil and Natural Gas Corporation (ONGC) climbed 16 places to 190.</p>.<p>The list had two Tata group firms -- Tata Motors at 370 and Tata Steel at 435th spot. Rajesh Exports at 437th rank was the other private Indian company on the list.</p>.<p>State Bank of India (SBI) climbed 17 places to rank 236th and Bharat Petroleum Corporation Ltd 19 places to 295.</p>.<p>Fortune Global 500 list ranks companies by total revenues for their respective fiscal years ended on or before March 31, 2022.</p>.<p>"The rebound from Covid-19 created a huge tailwind for the world's largest companies by revenue," Fortune said.</p>.<p>Aggregate sales for the Fortune Global 500 hit $37.8 trillion, an increase of 19 per cent -- the highest annual growth rate in the list's history.</p>.<p>Walmart landed at No. 1 for the ninth straight year, trailed by Amazon, which reached its highest ranking ever. Chinese energy giants State Grid, China National Petroleum, and Sinopec rounded out the top five.</p>.<p>For the first time, revenues from Global 500 companies in Greater China (including Taiwan) exceeded revenues from US companies on the list, accounting for 31 per cent of the total.</p>.<p>"The corporations that make up our annual ranking of the world's largest companies also reaped record-busting profits in 2021. But this year's turmoil has confronted the leaders of the Fortune Global 500 with a new set of crises -- many of them political as well as economic," it added.</p>