Adding another feather to its hat, India's Reliance Industries has secured second place on the FutureBrand Index 2020 just after American tech player Apple.
Headquartered in London, FutureBrand is a management consulting company, which according to its Twitter bio “future-proof brands so businesses grow even when times change”. Its annual index is a global perception study that reorders PwC’s Global Top 100 Companies by Market Cap on perception strength rather than financial strength.
“This year’s highest entrant at number two, Reliance Industries excels on every attribute", FutureBrand said while releasing its 2020 index of the world’s 10 top companies.
Reliance Industries is one of India’s most valued companies and in its report, the British management firm noted that the conglomerate is also “well respected” and is “seen as behaving ethically” while exploring avenues leading to growth and innovation.
“In particular, people have a strong emotional connection with the organisation.The chairman built on the existing petrochemicals business, transforming it into a digital behemoth designed to meet every customer need. Today, this company is engaged in a number of sectors including energy, petrochemicals, textiles, natural resources, retail, and telecommunications. Now that Google and Facebook are taking equity stakes in the firm, we may see Reliance jostling for the top spot in the next index", FutureBrand said.
In April, Facebook invested $5.8 billion in the purchase of a 9.9 percent stake in Reliance Jio.
In July, Ambani announced that Google is investing $4.5 billion in Jio Platforms, while picking up a 7.7 percent stakes in India’s largest telco with 387.5 million users. Jio is also the third largest telecom company in the world.
After Apple and Reliance, Samsung, Nvidia, Moutai, Nike, Microsoft, ASML, PayPal, and Netflix made it to the list.
FutureBrand said six years on from the first FutureBrand Index, the world has changed dramatically, priorities have shifted and the globe’s top 100 companies are dealing with challenges unthinkable even a year ago.