Mukesh Ambani-led Reliance Industries Limited (RIL), along with the Tata Group and Adar Poonawalla-led Serum Institute of India (SII), have been recognized as some of the world’s most influential companies by TIME magazine for 2024. For Reliance, this marks its second appearance in the TIME 100 list.
TIME’s annual list, which categorizes the top 100 companies into various categories, like Leaders, Disruptors, Innovators, Titans, and Pioneers, includes three Indian companies: Reliance Industries, the Serum Institute of India, and Tata Group. Reliance and Tata Group have been placed in the Titans category, while the Serum Institute of India has been chosen for the Pioneers category.
TIME magazine described Reliance Industries as “India’s Juggernaut,” emphasizing its transformation from a textile and polyester company founded 58 years ago by Dhirubhai Ambani into India’s most valuable company, with a market capitalization exceeding $200 billion.
TIME, in recognizing Reliance, also highlighted the significant Reliance-Disney deal, noting that the $8.5 billion agreement will strengthen Reliance’s position in India’s rapidly growing streaming and OTT market.
In addition to Reliance, TIME acknowledged the Serum Institute of India as the world’s largest vaccine manufacturer, producing 3.5 billion doses annually and playing a crucial role in saving millions of lives during the COVID-19 pandemic.
Regarding the Tata Group, TIME stated, “Tata Group is one of India’s oldest companies. Its vast portfolio spans from steel, software, watches, submarine cables, and chemicals to salt, cereals, air conditioners, fashion, and hotels. By investing in tech manufacturing, AI, and semiconductor chips, the group is transforming into a tech company. In 2023, it became the first Indian company to assemble iPhones.”
TIME’s fourth annual list of the 100 Most Influential Companies celebrates businesses making an extraordinary impact globally. The selection process involved nominations from various sectors, input from TIME’s global network of contributors, correspondents, and outside experts, and evaluations based on impact, innovation, ambition, and success.
The full TIME 100 Companies list will be featured in the June 10, 2024, issue of TIME, available on newsstands starting Friday, May 31.
