TIME magazine has unveiled its coveted list of 100 World's Most Influential Companies for 2024, featuring India's corporate powerhouses Reliance Industries and Tata Group, along with Serum Institute. Reliance Industries, headed by Mukesh Ambani, earned its spot for the second time, with TIME hailing it as 'India's Juggernaut'. The conglomerate's subsidiary, Jio Platforms, was previously honored in TIME's inaugural 100 Most Influential Companies List of 2021.
"Reliance Industries was founded as a textile and polyester company 58 years ago by Dhirubhai Ambani. Today the sprawling conglomerate, which has aligned its growth with Indian Prime Minister Narendra Modi's vision for a 'self-reliant' India -- is the country's most valuable company, with a market capitalisation of more than USD 200 billion," TIME said.
Tata Group's remarkable journey
Tata Group, established in 1868, secured its place in the 'Titans' category, showcasing its diverse portfolio and global impact. TIME lauded Tata's transformation under N Chandrasekaran's leadership, highlighting its foray into tech manufacturing, AI, and semiconductor chips.
"But as rivals have aggressively courted new businesses, it struggled to keep up with stiff competition. In 2017, after over a century of family management, N Chandrasekaran took over as chairman despite having no personal ties to the family -- highly unusual when India's business landscape is ruled by family succession plans," TIME said.
Serum Institute's vital role
Serum Institute, recognised as the world's largest vaccine manufacturer, was applauded for its significant contribution to global healthcare. The company's CEO, Adar Poonawalla, emphasised its commitment to providing affordable vaccines, underscoring its pivotal role in combating diseases like measles, polio, and HPV.
Selection process unveiled
TIME's annual list reflected companies making extraordinary impacts worldwide. The selection process involved nominations across sectors, followed by rigorous evaluation by TIME editors on key criteria such as impact, innovation, ambition, and success.
Celebrating global impact
The inclusion of Reliance, Tata, and Serum Institute underscores the influential role of Indian companies on the global stage, reflecting their contributions to various sectors and their commitment to innovation and societal impact.
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