Once again, the Tata Group has reaffirmed its position as India’s most valuable brand, experiencing a remarkable growth in brand value of 10.3 percent, reaching $26.4 billion. This accomplishment is significant as it marks the first time an Indian brand has surpassed the $25 billion mark and secured a place among the top 100 brands in the Brand Finance Global 500 2023 ranking, which evaluates the world’s most valuable brands.
Tata: India’s Most Valuable Brand
Despite the challenges posed by the post-pandemic landscape and geopolitical uncertainties, India’s top 100 most valuable brands have demonstrated collective growth, nearing a total value of $2 trillion since the previous valuation in January 2022, according to Brand Finance, a well-known brand valuation consultancy.
Savio D’Souza, the Director of Brand Finance, acknowledged the Tata Group’s strategic transformation over the past two years, emphasizing their adoption of digitalization and utilization of technology across their diverse portfolio. The Tata Group has long been at the forefront of promoting community welfare and sustainability, even before these concepts gained global attention.
Notably, the Tata Group has achieved an impressive global ranking of 49th in the Sustainability Perceptions Value, as revealed by the inaugural global Sustainability Perceptions Index conducted earlier this year, as mentioned by Savio D’Souza.
Brand Finance evaluates not only the overall brand value but also assesses the relative strength of brands, considering various factors such as marketing investment, familiarity, loyalty, staff satisfaction, and corporate reputation. The Taj Group, a prominent luxury hotel giant, has emerged as India’s strongest brand for the second year in a row, with a brand value of $374 million, according to Brand Finance.
The Mahindra Group has also made significant strides, securing its position as India’s seventh most valuable brand, experiencing a 15 percent growth in brand value to reach $7 billion. In the previous fiscal year, the automotive major recorded profits exceeding ₹10,000 crore on revenues of ₹1,21,269 crore.
In the metals sector, brands like Tata Steel, Hindalco, and Vedanta witnessed robust growth due to infrastructure revival and investments in India. Mahindra Auto, Tata Motors, and Maruti Suzuki achieved double-digit brand value growth, driven by the impetus towards an electric revolution in India and the rebound of pent-up demand following the pandemic, according to the Brand Finance report.
Raymond, a prominent clothing brand, emerged as India’s most valuable clothing brand for 2023, experiencing a remarkable 83.2 percent increase in brand value, reaching $273 million. This significant rise in brand value propelled Raymond to climb 55 spots, securing the 94th rank in the India 100 ranking for 2023.
Indian Brands Lauded for The “Made in India” Identity
Ajimon Francis, the Managing Director of Brand Finance India, praised Indian brands for embracing the “Made in India” identity, contributing actively to their own brand building while nurturing the nation’s brand identity. He acknowledged the presence of notable Indian brands such as Tata, Infosys, SBI, Airtel, Reliance, Mahindra, Taj Hotels, L&T, Bajaj Auto, Aditya Birla, Tech Mahindra, and MRF, which continue to excel globally.
Furthermore, Mahindra & Mahindra (M&M), a major automobile manufacturer, experienced a remarkable growth in brand value of 53.8 percent, amounting to $3.6 billion. This growth positioned M&M as the fastest-growing automobile brand in India and one of the top 10 fastest-growing auto brands globally for 2023, according to the report. The company holds a revenue market share of 19.1 percent among SUV manufacturers and enjoys a dominant 41.2 percent market share in India.
