The Time Person of the Year 2015 will be announced next month and the publication said the title will be bestowed on the person who 'most influenced the news this year for better or worse.'
Time said Modi has 'encouraged foreign direct investment in India and is trying to modernise the world’s largest democracy', but added that the Indian leader has also 'faced controversy over what some see as right-wing extremism'.
PM Narendra Modi was a contender for the honour last year also and while he was not chosen the Person of the Year by Time editors, he was named winner of the readers’ poll, securing more than 16 percent of the almost five million votes cast.
On Ambani, Time said the richest person in India is the chairman of Reliance Industries "which owns everything from telecom properties to the world’s largest crude oil refinery".
Also among the contenders is sundar Pichai. "After 11 years at Google, most recently as co-founder Larry Page's right hand, Pichai assumed the tech giant’s top job," Time said.
In a separate "Face-off" poll, PM Narendra Modi has been pitted against Jinping, while Mukesh Ambani has been pitted against Nigerian President Muhammudu Buhari.
Time asked its readers to vote for the individual who they think should get the title of Person of the Year and the winner of the reader's choice poll will be announced next month before Time's editors choose the individual from the 58 candidates as the honouree.


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