Reliance, Tata, and the Power of Influence: A Look at TIME's List of Most Influential Companies
In 2024, Reliance Industries and Tata Group have been honored with a spot on TIME's prestigious list of the 100 World's Most Influential Companies. Reliance has made its second appearance on the list in 2021 for its digital arm, Jio Platforms. TIME has referred to Reliance as "India's Juggernaut."
Reliance Industries founded by Dhirubhai Ambani 58 years ago, started as a textile and polyester company. Under the great leadership of his son, Mukesh Ambani, has diversified into energy, retail, and telecommunications, emerging as India's most valuable company with a market capitalization of over $200 billion.
Notably, Reliance has made significant strides in India's streaming market with an $8.5 billion merger with Disney's India business, capturing a 31% market share. This company has also revolutionized various transformed India's digital landscape by offering the world's most affordable mobile data. Additionally, Reliance footballs across its 18,000+ stores in FY24. Also, the company is investing $10 billion to develop a comprehensive ecosystem for new energy and materials, aiming to achieve net-zero carbon emissions by 2035.
Tata Group, another Indian giant on the list, was established in 1868 and boasts a diverse portfolio ranging from steel and software to fashion and hotels. In 2017, N Chandrasekaran became chairman, breaking the tradition of family succession.
Under his leadership, Tata has invested heavily in tech manufacturing, AI, and semiconductor chips. In 2023, Tata became the first Indian company to assemble iPhones, with plans for another plant underway. The group has also partnered with Nvidia to develop an AI cloud in India and is setting up the country's first major semiconductor manufacturing facility. These strategic moves have significantly boosted Tata's market capitalization to $365 billion, surpassing the entire economy of Pakistan.
The final selection was based on key factors like impact, innovation, ambition, and success, showcasing 100 businesses that are paving the way forward.
