Reliance Industries recognized as one of world's most influential companies by TIME
May 30, 2024
Mumbai (Maharashtra) [India], May 30 : Reliance Industries Limited (RIL) has been named one of TIME's 100 World's Most Influential Companies of 2024. This marks the second time the conglomerate has received this honour, previously being recognized in the inaugural list in 2021 for its subsidiary, Jio Platforms.
According to a press release, Reliance now holds the unique distinction of being the only Indian company to have been included twice in this elite list.
Reliance Industries has been categorized under the 'Titans' section in the latest edition of TIME's influential companies list.
TIME lauded the company, describing it as 'India's Juggernaut.' The publication highlighted the company's origins, tracing back to its foundation as a textile and polyester enterprise 58 years ago by Dhirubhai Ambani, and its evolution into India's most valuable company with a market capitalization exceeding USD 200 billion.
The company's alignment with Prime Minister Narendra Modi's vision for a "self-reliant" India was also noted.
Under the visionary leadership of Chairman Mukesh Ambani, Reliance Industries has been a pioneering force in various sectors, driving innovation and inclusivity.
Jio Platforms has revolutionized India's digital landscape, making mobile data affordable and accessible, thus driving unprecedented digital inclusion.
The establishment of the world's largest single-location refining complex, positioned Reliance as a global leader in refining capabilities.
Reliance Retail, now among the top 100 global retailers, registered 1.06 billion footfalls in FY2024 across its 18,800+ stores, with 67 per cent located in small towns and villages.
A substantial USD 10 billion investment is being directed towards building an extensive ecosystem for New Energy and New Materials in India, aiming for a sustainable future.
The company has set an ambitious target to achieve net zero carbon emissions by 2035 and is implementing various strategies to reach this goal.
Under the guidance of Founder Chairperson Nita M Ambani, Reliance Foundation has positively impacted over 76 million lives across 55,550 villages and urban areas in India.
Reliance Industries' recognition by TIME underscores its contributions to India's economy and its broader influence on global markets.
The inclusion in the TIME100 list aligns with its ethos of innovation, ambition, and success.
Alongside Reliance, two other Indian companies made it to the TIME100 Most Influential Companies list of 2024.
The Tata Group, also listed under the 'Titans' category, and the Serum Institute, recognized under the 'Pioneers' category, reflect the growing global influence of Indian enterprises.
This year's list, the fourth edition, emphasizes companies making extraordinary impacts worldwide. The selection process involved nominations across sectors, with evaluations based on impact, innovation, ambition, and success, conducted by TIME editors in consultation with global contributors and experts.
