Billionaire Mukesh Ambani's oil-to-telecom conglomerate Reliance Industries NSE -1.12 % has been ranked second biggest brand after Apple on the FutureBrand Index 2020. "This year's highest entrant at number two, Reliance Industries excels on every attribute," FutureBrand said, releasing its 2020 Index.

As per the FutureBrand Index 2020, Reliance currently is ranked second biggest brand just after Apple, and this significant growth is attributed to Mukesh Ambani’s shift from oil-to-telecom.  

In the 2020 release, FutureBrand said, "This year's highest entrant at number two, Reliance Industries excels on every attribute." Driving India’s economy growth, Reliance is one of the most profitable companies in India today and has received significant popularity and respect. 

"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," it said.

Mukesh Ambani recasting the firm as a one-stop-shop for Indians has made Reliance a global brand. "The chairman built on the existing petrochemicals business, transforming it into a digital behemoth designed to meet every customer need,” said FutureBrand. 

"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," it added. 

FutureBrand further stated that currently there has been a significant shift in priorities and the ecosystem has been altered dramatically. And, the globe's 100 companies are also dealing with unthinkable challenges due to the current volatile situation.  

"The FutureBrand Index is a global perception study that reorders PwC's Global Top 100 Companies by Market Cap on perception strength rather than financial strength," it said. "While the FutureBrand Index 2020 has uncovered a number of seismic shifts in the way companies work and how they present themselves to the outside world, one key theme has stood out: individuality," it concluded.