India’s strongest brands have bounced back from the pandemic to increase their brand value by a massive 35 per cent compound annual growth rate (CAGR) since 2020. The nation’s top 75 brands are worth a combined $393 billion, equivalent to 11 per cent of India’s national GDP, according to Kantar, a London-based data, insights and consulting company.
The growth rate of Kantar BrandZ’s top 75 Most Valuable Indian Brands far outpaces the rate of growth being posted in other major markets around the world, said the data firm in its 2022 report.
TCS, HDFC Bank in top spots
At $45.5 billion, Tata Consultancy Services (TCS) is the most valuable Indian brand, claiming the top spot from HDFC Bank (No 2, $32.7 billion) which had held the position since the first ranking was unveiled in 2014. TCS’ brand value has been accelerated by global demand for automation and digital transformation following the pandemic, said the report.
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The top 10 Most Valuable Indian Brands together contribute just over half of the ranking’s total value.
There has been significant movement at the top, in addition to the two most valuable brands switching positions. There are two new entrants – Infosys ($29.2 billion) which has climbed up to No 3 from the 12th position and ICICI Bank ($11 billion) which has jumped two places to No 9. State Bank of India ($13.6 billion) has also risen four places to No 6.
The 2022 Indian Top 75 has brands from 23 different categories. There are a total of 14 newcomers from 11 categories including online gaming, education, apparel and real estate.
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Tech brands sparkle
Tech brands and 11 consumer tech brands contribute 35 per cent to the total value of the ranking, reflecting the boom of technology in India. Overall, B2B brands (tech, payments) are on average almost three times as valuable as B2C brands, reflecting the fact that many of the B2B brands play on the global stage while B2C are more focused on the domestic market, said the report.
Six banking brands deliver 19 per cent of the total value. Also notable for their performance are insurance brands which have performed well as the pandemic increased consumers’ focus on protection of life and health, and telecom providers, led by Airtel (No 4; $17.4 billion) and Jio (No 10; $10.7 billion), which took full advantage of the growth opportunities as everything moved online – from education to work to parties.
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According to the Kantar report, key newcomers to the ranking include Vi (No 15; $6.5 billion), Byju’s (No 19; $5.5 billion), and Adani Gas (No 21; $4,5 billion). It may, however, be noted that Byju’s financial performance has spiralled down over recent months.