Reliance, Tata Earn Spots on TIME's List of Global Influential Companies

In a significant acknowledgment of their global influence and innovative prowess, two of India's corporate behemoths, Reliance Industries and Tata Group, have been named in TIME's prestigious list of the 100 World's Most Influential Companies of 2024. This recognition not only underscores the companies' dominant positions in their respective sectors but also highlights their substantial impact on the global business landscape.

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TIME has placed Reliance Industries in the 'Titans' category, marking the second occasion the conglomerate has been featured in this esteemed list. Founded 58 years ago by Dhirubhai Ambani as a textile and polyester firm, Reliance Industries has evolved into India's most valuable company, boasting a market capitalisation exceeding USD 200 billion. Under the leadership of Mukesh Ambani, Dhirubhai's son, the Mumbai-based conglomerate has diversified into sectors including energy, retail, and telecommunications. This diversification has not only propelled Mukesh Ambani to become Asia's richest man but has also aligned Reliance's growth with Prime Minister Narendra Modi's vision for a self-reliant India.

Reliance's digital arm, Jio Platforms, previously made it to the inaugural TIME 100 Most Influential Companies List in 2021. The company has been instrumental in transforming India's digital landscape by offering affordable mobile data tariffs and establishing the world's largest single-location refining complex. In February, Reliance further solidified its position in India's streaming market through an USD 8.5 billion merger deal with Disney's India business, aiming to capture a significant share of the streaming audience.

Serum Institute: Pioneering Global Health

In the 'Pioneers' category, TIME has recognized the Serum Institute of India for its monumental role in global health. As the world's largest vaccine manufacturer, Serum produces 3.5 billion doses annually, catering to diseases like measles, polio, and HPV. The company's CEO, Adar Poonawalla, attributes this success to its private ownership model, which allows for keeping vaccine prices low. Notably, Serum's R21 vaccine is priced at just USD 4 a shot.

Tata Group: An Empire Reimagined

Also listed under the 'Titans' category alongside Reliance, Tata Group boasts a diverse portfolio that spans steel, software, fashion, and more. Founded in 1868, Tata Group has faced stiff competition but has remained resilient under the leadership of N Chandrasekaran since 2017. Chandrasekaran's tenure has seen significant investments in tech manufacturing, AI, and semiconductor chips. Notably, Tata became the first Indian company to assemble iPhones in 2023 and is now venturing into semiconductor manufacturing—a move that significantly boosts its market capitalisation to USD 365 billion.

The inclusion of Reliance Industries and Tata Group in TIME's 100 World's Most Influential Companies list is a testament to their enduring legacy and innovative strategies that continue to shape industries globally. This recognition not only highlights their economic contributions but also their pivotal roles in advancing technology and healthcare worldwide.

The annual TIME100 Most Influential Companies list is compiled through a rigorous process involving nominations from various sectors, consultations with global contributors, correspondents, and external experts. TIME editors then evaluate each nominee based on impact, innovation, ambition, and success to curate a list that reflects businesses charting an essential path forward.