Brand Finance, the world’s leading brand valuation consultancy in their recent report stated that the total value of India’s top 100 brands has increased by 2%, from US$162.1 billion in 2020 to US$164.9 billion in 2021. This increase in valuation is quite impressive considering that the world was reeling from a pandemic and the consumption cycle was brought to a halt.
As per the report, sectors such as IT, healthcare, utilities, chemicals, edutech, banking, and construction have proved to be very efficient during this trying period. Of the top ten strongest brands in India, Jio tops the list based on a Brand Strength Index score of 91.7 out of 100. The other companies that follow are Taj Group of Hotels, Maruti Suzuki, HDFC Bank, Britannia, Amul, LIC, Kotak, SBI and Airtel respectively.
“Despite being one of the worst-hit nations throughout the COVID-19 pandemic, Indian brands have shown remarkable resilience to the challenges that have ensued since the first lockdown in March 2020. Over the past year, the nation’s top 100 most valuable brands have recorded a 2% uplift in total brand value, showcasing their strength. Yet the current national health emergency presents an even greater challenge than last year’s lockdown. In these trying times for all of India, brands will need to play their part in supporting recovery.”, says Ajimon Francis, Managing Director, Brand Finance India.
With a brand value of US$21.3 billion, TATA Group is India’s most valuable brand. The brand records an uplift of 6% in valuation with operations managing 30 companies under the TATA Group umbrella.
When it comes to the banking sector in India, HDFC Bank has become India’s most valuable banking brand with US$6.6 billion. It lies on the 5th position of the list, after LIC, Infosys and Reliance, respectively. The Union Bank of India saw the fastest year-on-year brand value increase. It grew by 163% to US$1.2 billion and this growth is seen owing to the amalgamation of Andhra Bank and Corporation Bank.
IT Services have become the third most valuable sector in India and Infosys bags the third position in the list as the highest-ranked standalone IT services brand. Other IT Services brands which have made it to the top ten list include HCL in 8th position and Tech Mahindra which is incorporated in the Mahindra Group’s conglomerate brand value in the 9th position. In the telecom industry, Airtel bags the 6th position as the most valued brand and Jio comes in at the 10th position.
Brand value is the net economic benefit that a brand owner will achieve by licensing their brand in the open market. In a pandemic ridden condition like ours, the growth of these brands in the Indian economy is very commendable.