TIME magazine has revealed its highly anticipated roster of the 100 World’s Most Influential Companies for 2024, shining a spotlight on India’s corporate giants Reliance Industries and Tata Group, alongside the renowned Serum Institute. Reliance Industries, helmed by Mukesh Ambani, secures its position for the second consecutive time, earning the title of ‘India’s Juggernaut’ from TIME. The conglomerate’s subsidiary, Jio Platforms, previously received recognition in TIME’s inaugural 100 Most Influential Companies List in 2021.
TIME acknowledged Reliance Industries’ evolution from its roots as a textile and polyester enterprise founded 58 years ago by Dhirubhai Ambani. Today, the conglomerate stands as India’s most valuable company, boasting a market capitalization exceeding USD 200 billion. TIME noted Reliance’s alignment with Indian Prime Minister Narendra Modi’s vision for a ‘self-reliant’ India as a driving force behind its growth.
Meanwhile, Tata Group, with its inception dating back to 1868, secured its place in the ‘Titans’ category, showcasing a diverse portfolio and global influence. TIME praised Tata’s transformation under the leadership of N Chandrasekaran, highlighting its expansion into tech manufacturing, AI, and semiconductor chips. Chandrasekaran’s appointment as chairman in 2017 marked a departure from the family’s century-long management tradition, signaling a significant shift in India’s business landscape.
Serum Institute, acclaimed as the world’s largest vaccine manufacturer, received accolades for its substantial contributions to global healthcare. CEO Adar Poonawalla reiterated the company’s commitment to providing affordable vaccines, emphasizing its pivotal role in combating diseases such as measles, polio, and HPV.
The selection process for TIME’s annual list involved nominations spanning various sectors, followed by rigorous evaluation by TIME editors based on criteria such as impact, innovation, ambition, and success.
The inclusion of Reliance, Tata, and Serum Institute underscores the influential role of Indian companies on the global stage, highlighting their contributions across sectors and dedication to innovation and societal impact.