Tata India’s most valuable brand; Infosys, LIC, Reliance follow
Tata is the most valuable brand in India with its value going up 12 per cent to hit $24 billion, according to the world’s foremost valuation consultancy, Brand Finance.
The Tata Group has worked on its strategic business and leadership initiatives and conducted brand building activities all over the world, the report stated.
Following the Tata Group is India’s flagship IT company, Infosys, which has been named the second most valuable Indian brand with a 52 percent increase in brand value at $12.8 billion. As per the report, Infosys gained significantly during the pandemic. The last two years saw the IT firm’s brand value go up from under $7.1 billion pre-pandemic, up 80 percent to its current value.
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LIC, which recently came up with its IPO, was placed third. The brand registered 28 percent growth in brand value at $11.1 billion.
Reliance is placed fourth with a brand value of $8.6 billion, up 5 percent.
Tata’s Taj Hotels (brand value up 6 per cent to $314 million) is the strongest brand in the ranking with a Brand Strength Index (BSI) score of 88.9 out of 100 and a corresponding AAA brand rating, states the annual report of Brand Finance, which rates India’s top 100 brands.
The COVID-19 pandemic followed by lockdowns impacted the hospitality sector negatively. The brands in this segment had to re-invent their plans to remain relevant amid uncertainty about tourist numbers. “The hospitality industry is recovering as five-star business hotels in metropolitan cities across the country have seen occupancy reach 75 per cent to 80 per cent in the past month,” the report noted.
The IT industry, on the other hand, has benefitted the most from the pandemic. The industry crossed $200 billion in total revenue and $5 million in total workforce.
TCS’ brand value went up 12 per cent to reach $16.7 billion, making it the world’s second most valuable brand, followed by Infosys.
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Brand values of other IT companies also went up. For example, Wipro (48 per cent), Accenture 39 per cent), HCL (10 per cent) and Tech Mahindra (30 percent) emerged as the other promising brands. Brand value of Accenture, Wipro, HCL and Tech Mahindra currently stand at $36.2 billion, $6.4 billion, $6.1 billion and $3 billion, respectively.
In the banking segment, State Bank of India (SBI) has earned the reputation of being the best brand with a 29 percent growth in brand value, valued at $7.5 billion. It is also rated the best in South Asia.
In the domestic telecommunication sector, Airtel, with a brand value of $7.7 billion, took the top slot, registering a significant 28 per cent growth. Jio (brand value up 5 per cent to $5.1 billion) stood second followed by VI (brand value of $767 million).
