Airtel Beats Jio To Become India’s #1 Telecom Brand At Rs 59,000 Cr Brand Value: Increase Of 28% In Last 12 Months!
Brand Finance Report For Telecom Service Providers
Bharti Airtel’s brand value stood at $7.7 billion, which is the highest among any other telecom company in India, according to a Brand Finance report.
Airtel’s brand value also increased by 28% during the year.
Followed by Mukesh Ambani-led Reliance Jio, which gained second position with brand value of $5.1 billion, a 5% increase this year.
The third spot is occupied by, VI, previously known as Vodafone Idea as its brand value was under a billion dollars.
It seems that the telecom service provider is facing numerous business challenges due to its debt, along with other troubles like the AGR issue, its brand value stood at $767 million.
Most Valuable Brand In India
The crown of most valuable brand in the country remains with the Tata Group, with a value of $24 billion.
The second spot is snatched by Infosys with its $12.8 billion brand value as it has managed to overtake Life Insurance Corporation (LIC) ($11.1 billion brand value) and become the second most valuable Indian brand this year.
The report mentions, “Infosys has shown impressive growth this year, making it the fastest-growing IT services brand globally of 2022, thanks to its commitment to clients and focus on innovation,”.
It seems that LIC spent a lot of time, money and efforts on marketing in 2021 for its initial public offering.
Airtel Becoming Multinational
In the case of Airtel, surpassing Reliance Jio’s brand value comes as a surprise as Reliance Jio is the biggest wireless service provider in India with a market share of over 35%.
But Airtel is not much behind as its share is slightly lower at 31.56%, according to Telecom Regulatory Authority of India (TRAI).
Notably, the point of difference for the two companies is simple considering Airtel has not limited itself to the Indian market.
On the other hand, Jio focuses on growing in India.
At the same time, Bharti Airtel has spread its presence in 16 countries across South Asia and Africa.
The move has not only increased the company’s brand value but also its ability to make money.