Meesho, NPCI: Two Indian companies in TIME’s 100 most influential companies list 2023

Two Indian companies, Meesho and the National Payments Corporation of India (NPCI), were on Thursday included in TIME magazine’s annual list of the 100 most influential companies in the world.

“Meesho doesn’t charge sellers a commission, which it says enables it to sell 60% of its products for less than $4, in reach for Indian families that make less than $6,000 a year,” said the report by TIME magazine.

Bangalore-based Meesho was also the most downloaded shopping app in the world in early 2022.

Vidit Aatrey, founder & CEO of Meesho, expressed his gratitude for this achievement, considering it a significant validation of the company's efforts to democratise e-commerce in India.

He took to Twitter to thank the employees, investors and customers who have supported Meesho throughout its journey.

Aatrey, while thanking employees, tweeted, “Deep gratitude to all Meeshoites, the architects of this success. Brimming with talent, ownership and purpose, they keep pushing the envelope, going above and beyond to make a difference.”

“Words are probably not enough to thank our investors, whose unwavering support and belief in our abilities has got us thus far,” he added while addressing his investors.

“Heartfelt thanks to crores of Meesho users who repose their trust in us and are our biggest evangelists. And a hat tip to our 1.1M sellers, who work relentlessly to ensure that our users keep getting the rare blend of value and variety Meesho has come to be known for,” Aatrey said while thanking his customers and sellers on the platform.

Meesho recently achieved the milestone of becoming the "fastest shopping app" to surpass 500 million cumulative downloads, as reported by data analytics provider data.ai.

On the other hand, the National Payments Corporation of India (NPCI) became the second Indian company to be added in the list. NPCI is an umbrella organisation for all retail payments system in India.

Polygon Labs, a US-based start-up focused on enhancing the speed and affordability of transactions on the Ethereum blockchain, is another company with Indian-origin founders, Sandeep Nailwal and Jaynti Kanani, that has been recognised in TIME's list of most influential companies for 2023.

Last year, Falguni Nayar's Nykaa also made it to the coveted list.

To determine the TIME100 companies, the magazine invites nominations from various sectors and collects input from its global network of contributors, correspondents, and external experts. The editors then assess each company based on criteria such as impact, innovation, ambition, and success.