Fortune India - December 2022

Fortune 500 India: The iconic Fortune 500 India listing of the country’s biggest companies — now in its 13th edition — is always a barometer of scale. Of size that never fails to amaze. The top 500 club in 2022 is now worth $1.57 trillion in annual revenue, almost as big as the economies of Canada, Mexico and Spain.
Despite the Sensex rollercoaster in the fiscal, the combined market cap of 449 listed companies in 2022 stood at a record `239 lakh crore as of November 11. That’s a healthy valuation of 101% of India’s nominal GDP, indicating the stock market performance is not out of place despite a healthy run. Another milestone of scale is the number of billion dollar companies —233 this year comprising almost half of the cohort — at a time when rupee-dollar was nearly 76 in March. That’s a jump from a decade ago, despite gradual rupee depreciation.
The special Fortune 500 India package in the pages to follow also features standout performers of the fiscal: How constant evolution at Reliance Industries has kept it at the top of this year’s listing as well, despite all-round challenges; Adani Wilmar’s businesses of scale; LIC’s stunning debut at No.2; and among others, how the all-digital play at Info Edge paid off.