Tata Beats Infosys, LIC To Become India’s Most Valuable Brand At $24 Billion Brand Value: Check Top 10 Brands
Despite the Covid19 pandemic impact through the last two years, top Indian brands witnessed a significant growth in their brand values during 2022.
Growing Brand Value Of Indian Brands
As usual, Tata Group emerged as the most valuable brand at $24 billion while retaining its top position.
The brand has witnessed a 12 percent increase in its brand value this year.
It appears that Tata group has strengthened its strategic business and leadership initiatives with brand building activities across the globe, as per a report by brand valuation consultancy Brand Finance.
Basically, this report features India’s top 100 most valuable and strongest brands in its annual Brand Finance India 100 ranking.
IT major, Infosys gaining the second position emerged as the second most valuable Indian brand with a 52 percent increase in brand value at $12.8 billion.
The Infosys brand saw significant growth during the pandemic, with its brand value increasing from under $7.1 billion pre-pandemic, up 80 percent to its current value, as the report noted.
LIC Witnessed A Drop In Brand Value
In the case of LIC, the insurer saw a drop in ranking and took the third spot this year in ranking, the brand saw 28 percent growth in brand value at $11.1 billion.
On the other hand, Reliance retained its fourth spot with a brand value of $8.6 billion, which is up 5 percent.
Notably, Taj Hotels emerged as the strongest brand with its brand value increasing by 6 percent to USD 314 million.
In the last two years, brands in the hospitality industry had to reinvent their strategies considering the Covid-19 impact, the report noted.
In this game, Taj played at the forefront of this with agility and strategic initiatives as it offered support to the healthcare sector, the report added.
Brand Growth For Banking, IT and Telecom Sectors
If we talk about different sectors then banking, IT services and telecom sectors saw high brand value growth this year.
In the case of the banking sector, its value grew by 16 percent this year, followed by IT services and telecom brands as their value grew 15 percent and 7 percent respectively.
Further, in the banking sector, State Bank of India (SBI) emerged as the top brand in South Asia with a 29 percent growth in brand value, valued at $7.5 billion.
SBI is also the sixth most valuable brand in the country.
Top Players For IT And Telecom Sector
Coming to the IT services sector, 2022 has been a tipping point for the industry when the IT services space crossed $200 billion in total revenue and $5 million in total workforce.
The Brand value of TCS grew 12 percent to $16.7 billion and is among the top three most valuable brands globally at the second spot, as per the report.
Other IT majors including Accenture, Wipro, HCL and Tech Mahindra saw their brand value increase 39 percent, 48 percent, 10 percent and 30 percent respectively.
Presently, the brand value of Accenture, Wipro, HCL and Tech Mahindra stand at $36.2 billion, $6.4 billion, $6.1 billion and $3 billion, respectively.
When it comes to the telecommunications industry, Airtel ranks number one with a brand value of $7.7 billion, up 28 percent.
Second rank is occupied by Jio with a brand value of $5.1 billion, up 5 percent, followed by VI with a brand value of $767 million.