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  • DAILY CURRENT AFFAIRS:LIC enters for the first time in the Fortune 500 companies list

LIC enters for the first time in the Fortune 500 companies list

Tags: Economy/Finance

The public sector life insurance giant, Life Insurance Corporation of India (LIC) has been included for the first time in the Fortune Global 500 companies 2022 of the world.

  • The list is compiled by a top American Business magazine Fortune every year.
  • The rankings of the Fortune Global 500 list are based on the total revenues drawn by the companies for their respective fiscal years as of March 31, 2022.
  • A total of nine Indian companies have entered the list, out of which, five of them were state-owned and four were private sector firms.
  • The rankings of the Fortune Global 500 list are based on the total revenues drawn by the companies for their respective fiscal years as of March 31, 2022.
  • Among the top 5 companies in the world two belonged to the United States while three belonged to China .

Top five companies of the world rank wise are as follows:

  1. Walmart(United States )
  2. Amazon(United States) , followed by Chinese companies  
  3. State Grid Corporation of China,
  4.  China National Petroleum Corporation and
  5.  Sinopec Group.

Indian Companies in the list ,rank wise 

  1. LIC  was ranked 98th in the Fortune list .
  2. Reliance Industries Limited at 104 rank (last year it was ranked 155th)
  3. Indian Oil Corporation at 142 rank (last year it was at 170 rank)
  4. ONGC at 190th rank (last year it was 206th rank)
  5. SBI at 236th rank (last year it was at at 253th rank)
  6. BPCL at 295th rank (last year it was at 314th rank)
  7. Tata Motors at 370th rank 
  8. Tata Steel at 435th rank
  9. Rajesh Export at 437th rank


 

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