New Delhi: Reliance Industries, the house that Dhirbubhai Ambani built, and whose parts his son Mukesh Ambani shepherded into a new-age behemoth. With a succession plan in place for a 3rd generation, Reliance Industries has been mentioned in TIME magazine’s list of 100 most influential companies.
TIME noted the company’s development into a “sprawling conglomerate” from being founded as a “textile and polyester company”. Calling it the country’s most valuable company which has made Mukesh Ambani Asia’s richest man. TIME noted Reliance’s sprint to become the country’s dominant streaming giant as it came out on top “in a fiercely competitive race… by striking a $8.5 billion merger deal with Disney’s India business.” The deal puts Reliance Jio, with a 31 per cent share of India’s streaming market, against Netflix and Amazon Prime which have an 8 per cent share each, TIME reported citing analytics firm Comscore.
Reliance Industries Ltd was included on @TIME‘s list of the 100 Most Influential Companies of 2024! #TIME100Companies pic.twitter.com/az7hrYjtCb
— Reliance Industries Limited (@RIL_Updates) May 30, 2024
Indian firms on TIME’s 100 Most Influential Companies list
TIME‘s 100 most influential companies includes these names:
Company Name
Description
Tata Group
High-tech pivot
Serum Institute
Pioneer
Reliance Industries
India’s Juggernaut
TIME magazine shared an interview with Serum Institute of India CEO Adar Poonawalla, sharing details of the company’s upcoming anti-malaria vaccine, co-developed with the University of Oxford. The vaccine has been awarded pre-qualification status by the WHO. “As the world’s biggest vaccine maker, Serum is no stranger to churning out billions of vaccines,” said TIME.
TIME also noted N Chandrasekaran’s elevation as chairman of Tata Group in 2017 “after over a century of family management”. The magazine called it a unqiue development “when India’s business landscape is ruled by family succession plans.” TIME noted the company’s tech pivot under Chandra, even becoming India’s first company to assemble iPhones, besides announcing AI cloud plans with Nvidia and planning India’s first major chip making facility.
TIME magazine has named Mukesh Ambani-led Reliance Industries among the world’s 100 most influential comoa nies for its transformation from a textile and energy major to a media conglomerate and its recent deal with Disney that pits it ahead of Netflix and Amazon Prime in India’s streaming market. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
