Time magazine has recognized the Tata Group and the Serum Institute of India (SII) in its prestigious list of the 'World’s Most Influential Companies of 2024'. The Tata Group has been categorized under 'Titans', while the Pune-based SII is listed among the 'Pioneers'.
Founded in 1868, the Tata Group has established itself as a cornerstone of India’s economy, with a diversified portfolio that includes steel, software, watches, subsea cables, chemicals, salt, grains, air-conditioners, fashion, and hotels. Despite fierce competition, the company has managed to stay relevant and innovative.
In a significant leadership shift, N. Chandrasekaran, known for his 'high-tech pivot', took over as Chairman in 2017, marking the end of over a century of family management. Under his leadership, Tata Group has heavily invested in tech manufacturing, artificial intelligence, and semiconductor chips. Notably, in 2023, Tata became the first Indian company to assemble iPhones and announced a new plant. Furthermore, a partnership with Nvidia to develop an AI cloud in India was unveiled in September. Tata’s market capitalization reached $365 billion in February 2023, surpassing the entire economy of Pakistan.
The Serum Institute of India, the world’s largest vaccine manufacturer, produces 3.5 billion doses annually for diseases such as measles, polio, and HPV. CEO Adar Poonawalla attributes the company's success to its private ownership and focus on accessibility over pricing. The SII provided 90% of the vaccines for India and expanded its exports globally. Despite halting Covid-19 vaccine production at the end of 2021 and destroying around 210 million doses in 2022, the company remains a critical player in the global vaccine industry.
Both Tata Group and SII have demonstrated significant influence and innovation in their respective fields, earning them a place among Time’s top 100 influential companies of 2024. Their contributions to technology, healthcare, and economic development highlight their pivotal roles on the world stage.