New Delhi, Feb 22 (IANS): India-based global audio and music streaming service JioSaavn on Friday announced that it has secured the first rank India-wise and 28th rank globally in the 2019 list of "50 Most Innovative Companies".

JioSaavn is the only Indian company that made it to the list, published by US-based business publication Fast Company.

"The music streaming company which was formed in October 2018 when streaming start-up Saavn merged with telecom giant Reliance's JioMusic services, offers more than 40 million tracks in 15 regional languages for 38 million monthly active users," Fast Company wrote in its listing.

The other domestic companies that ranked top on the India list of "Most Innovative Companies" include branded budget hotel marketplace OYO, biodegradable sanitary pad manufacturers Sathi and ride-hailing service Ola.

"Our 2019 ranking of the businesses making the most profound impact on both industry and culture showcases a variety of ways to thrive in today's volatile world," said Fast Company which judged nominations received through an application process.

The innovation benchmarking was done on the most profound impact on both industry and culture.