TCS, Infosys, HCL Are India’s Biggest IT Brands; But Covid-19 Can Wipe Off 20% Brand Value
A newly released report has revealed that among the top brands of India, Infosys and HCL have retained their spots among the top 10 of the best 100 Indian brands in the year 2020.
The Brand Finance India 100 2020 report also reveals that the top 100 Indian brands could lose $25 USD due to the Coronavirus pandemic.
Find out which are the top brands of India as per this report right here!
The Brand Finance India 100 2020 Report States Tata Group Most Valued Brand
The Brand Finance India 100 2020 report India has released the report of top 100 brands of India, among which, Infosys and HCL are the only ones who have retained their spots in the top ten of the best 100 Indian brands in 2020.
Tata Group, including the Tata Consultancy Services, has been named as the most valued brand at $20 billion. It is also the only Indian brand to feature in Brand Finance Global 2020 ranking.
Apart from that, India’s second-largest IT firm, Infosys, has seen a jump in the brand value by 9% and it is also the most valued brand. The brand value of Infosys which was $6.5 billion in 2019 now stands at $7.1 billion in 2020.
Also, India’s fourth largest IT company, Wipro, is now ranked 11th in the report. The brand value of Wipro is at $4.3 billion in 2020, and the company slipped its rank by one spot as compared to 2019.
COVID-19 To Bring Up To 20% Losses To IT Companies
The report also talks about the losses that Indian brands will incur due to the COVID-19. IT services is a high impact sector, according to the report, and will see up to 20% loss in brand value due to the virus outbreak. This has been based off of the firm’s observations in the 2020 Q1.
It states, “As the COVID-19 pandemic wreaks havoc on the global and national economy, India’s top 100 most valuable brands could lose up to 15% of brand value cumulatively, a potential drop of nearly US$25 billion compared to the original valuation date of 1st January 2020.”
Here is a list of the IT brands of India and their ranks:
- Tata Group (Including TCS) – Rank 1
- Infosys – Rank 4
- HCL – Rank 9
- Wipro – Rank 11
- L&T Infotech – Rank 53
- Mphasis – Rank 66
- Mindtree – Rank 99