With the brand value of $28.6 billion, it is none other than the Tata Group that has retained the title of India’s most valuable brand.
Tata Tops $28 Billion, Indian Brands Shine in 2024 Ranking
This was revealed in the Brand Finance India 100 2024 report.
It is also in the same brand valuation consultancy Brand Finance’s report that it is said that the group’s Taj hotel brand has been ranked as the strongest Indian brand.
As per the report, the brand value of Tata Group also marks the very first time that an Indian brand has crossed the $30 billion valuation mark, which reflects the kind of prevailing optimism in the Indian economy.
As per the director of Director of Brand Finance, Savio D’Souza, “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. Moreover, the conglomerate persistently pioneers in societal well-being and ecological stewardship, establishing benchmarks of global eminence”.
Second in the list is Infosys, followed by HDFC. Notably, for the latter the rank can be attributed to its merger with HDFC Ltd.
In terms of brand value, brands like Indian Bank, IndusInd Bank, and Union Bank leading the way in the report and have achieved double-digit growth in brand value.
Indian Brands Take Off -Telecom & Banking Lead Sectoral Surge
With a 61% growth, telecom sector is leading, which is followed by 26% growth in banking sector which is then followed by an average growth of 16% across mining, iron, and steel sectors.
Driving the growth are telco giants like Jio, Airtel, and Vi which can be attributed to adapting to changing consumer device usage patterns.
Report says that for banking sector, it is the structural reforms and regulatory improvements that have enhanced the brand values of leading public sector banks.
Ajimon Francis, Managing Director, Brand Finance India said that “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. As a result, formidable brands such as Tata, Infosys, SBI, Airtel, Reliance, Taj Hotels, L&T, MRF and all continue to punch well above their weight on the global stage”.
Among all others were brands with gained recognition includes the likes of Raymond, Hexaware, Zetwerk, Indigo, HMEL.
Coming to the brands, Westside with a 122% increase in brand value led the list of fastest-growing Indian brands. This is followed by Motherson with 86% growth and Sonata Software with 83% growth.
