Mumbai, India, Reliance Industries Limited (RIL), and Tata Group have won a coveted berth on TIME magazine’s 2024 list of the world’s 100 most influential companies, demonstrating their global impact and leadership. The Serum Institute of India has joined them on this renowned list, showing Indian firms’ robust position on the global scene.
RIL: A Titan in Industry
Reliance Industries, led by Mukesh Ambani, was honored in the ‘Titans’ category, demonstrating its revolutionary influence across numerous sectors. This is Reliance’s second appearance on the TIME 100 list; the first was in 2021 with Jio Platform. TIME dubbed Reliance “India’s Juggernaut,” hailing its transformation from a textile and polyester company started 58 years ago by Dhirubhai Ambani to India’s most valuable company, with a market valuation of more than $200 billion.
Dhirubhai Ambani launched Reliance Industries as a textile and polyester company 58 years ago. Today, the enormous conglomerate, which has matched its growth with Indian Prime Minister Narendra Modi’s ambition for a’self-reliant’ India, is the country’s most valuable firm,” TIME reported.
Mukesh Ambani’s notable achievements include the world’s largest single-location refining complex and the launch of Reliance Jio, which transformed India’s digital landscape by offering the world’s most cheap mobile data pricing. Reliance Retail, another big undertaking, with 1.06 billion footfalls across over 18,800 outlets in FY24, with 67% of them in small towns and villages.
The company’s ambitious $10 billion investments in new energy and materials aim to create a sustainable ecosystem and reach net-zero carbon emissions by 2035.
Tata Group: An Icon of Innovation.
The Tata Group, which is also included in the ‘Titans’ category, has a long history dating back to 1868. Since 2017, Tata has achieved substantial advances in technology production, artificial intelligence, and semiconductor chips, led by N. Chandrasekaran. Notably, Tata became the first Indian business to assemble iPhones and announced plans for India’s first large-scale semiconductor manufacturing facility.
Tata teamed with Nvidia in September to establish an AI cloud in India, cementing its position as a technical innovation leader. These initiatives have increased Tata’s aggregate market valuation to $365 billion, exceeding the whole economy of neighbouring Pakistan.
Serum Institute, a pioneer in healthcare
The Serum Institute of India, recognized in the ‘Pioneers’ category, is the world’s largest vaccine maker, manufacturing 3.5 billion doses a year, including measles, polio, and HPV vaccines. CEO Adar Poonawalla attributes the company’s success to its private ownership, which allows for inexpensive vaccine prices, such as the R21 malaria vaccine, which costs $4 per dosage.
Conclusion
TIME’s 2024 list includes Reliance, Tata, and Serum Institute, highlighting Indian corporations’ global reach and innovative spirit. As these behemoths continue to grow and innovate, they are not only propelling India’s economic progress but also contributing significantly to global industries.
This year’s TIME 100 Most Influential Companies list recognizes companies making significant global contributions, chosen for their innovation, ambition, and achievement. The complete list will be published in the June 10, 2024, issue of TIME, which will be available on newsstands beginning May 31.
