The Tata Group has retained its title as India’s most valuable brand in the latest rankings released by Brand Finance. The Group’s brand value was pegged at $28.6 billion, up 9 per cent on the back of a refreshed business strategy focusing on digitalisation, e-commerce, EV and electronics. The report pointed out that Tata Group’s brand value highlights the first time an Indian brand is close to the $30-billion brand value mark and this reflected “the prevailing optimism in the Indian economy.”
Infosys with a brand value of $14.2 billion was ranked second, followed by HDFC Group, which jumped to the third spot ($10.4 billion), propelled by its merger with HDFC Ltd, the report noted.
“Over the last triennium, the Tata Group has orchestrated a rigorous organisational refinement, wholeheartedly embracing digital transformation and cutting-edge technology across its manifold enterprises. Concurrently, its brand prominence has ascended meteorically, propelled by strategic Indian Premier League sponsorships, aeronautical rebranding endeavours and an expansive footprint bolstered by the flourishing retail domains of Westside and Tata Consumer products,” said Savio D’Souza, Senior Director, Brand Finance in a statement.
LIC Group, Reliance Industries, SBI Group, Airtel, HCL Tech, Larsen & Toubro and Mahindra were also among the top ten most valuable Indian brands, according to the Brand Finance India 100 2024 Report.
Global south leader
HCL Tech jumped two ranks to the 8th position supported by strategic investments while focusing on emerging technology and services. Meanwhile, Larsen & Toubro secured the 9th spot due to its sharp focus on efficiency and operational excellence across sectors where the brand operates, it added.
Ajimon Francis, Managing Director, Brand Finance India, stated, “India is presenting itself as a differentiated leader of the “Global South” by setting the narrative of “development, self-reliance and autonomy”. India is today a vital cog in global geo-politics, both with its hard and soft power. Brand Bharat is blooming. In the past year, India has become one of the most viable destinations for manufacturing, engineering services, knowledge hub for R&D and continues to be the flagbearer of IT services globally.”
The sectoral analysis outlined that the telecom sector achieved 61 per cent growth in brand value, followed by banking (26 per cent ) and mining, iron and steel sectors recording about 16 per cent average growth. Among the fastest growing brands in India, Westside topped the charts with 122 per cent growth in brand value, ahead of Motherson and Sonata Software, it added.
Standout performances
In terms of the standout performances, the report noted that Raymond, recorded a steady 12 per cent brand value increase to $ 305 million.
“ Zetwerk made a “remarkable debut” in the India 100 2024 report, securing the second position among most valuable engineering brands ranked with a brand value of $ 543 million. This young company, established only six years ago, has established itself as a leader in manufacturing excellence through its innovative technology-enabled manufacturing services,” the report stated. Overall, Zetwerk is the 64th most valuable brands ranked this year.
Meanwhile, Indigo was the most valuable airlines brand ranked in India this year, achieving 26 per cent brand value increase, and emerging as the nation’s first airlines brand to surpass the $1 billion mark in term sof brand value ( $1.1 billion).