India’s top brands: TCS retains No. 1 spot; 75 leading brands witness 4% decline in value
‘Kantar BrandZ Top 75 Most Valuable Indian Brands Report’ said that India’s top 75 brands have a combined brand value of $379 billion, a decline of 4 per cent from 2022.
Tata Consultancy Services (TCS) is the most valuable Indian brand for the second consecutive year, with a brand value of $42.9 billion, according to a brand report by marketing data and analytics firm Kantar.
Since 2014, the top 50 most valuable Indian brands have increased almost fivefold in value, from $70 billion to $340 billion in 2023, said Kantar.
‘Kantar BrandZ Top 75 Most Valuable Indian Brands Report’ said that India’s top 75 brands have a combined brand value of $379 billion, a decline of 4 per cent from 2022 – a modest decrease given the ongoing economic volatility across most of the world. By comparison, the top 100 most valuable global brands declined in value by 20 per cent between 2022 and 2023.
“This is testament to Indian brands’ resilience, stability and consistency… Indian brands that do best at justifying their pricing, and even justifying a premium, are those that strike consumers as being truly distinctive,” it added.
According to the report, HDFC Bank ($33.6 billion) is the second most valuable Indian brand, followed by Infosys ($24.2 billion), Airtel ($22.5 billion), State Bank of India ($14.5 billion), ICICI Bank ($ 12.9 billion), Asian Paints ($ 12.8 billion), Jio ($11.7 billion), Kotak Mahindra Bank ($10.3 billion) and HCL Tech ($ 9.3 billion).
The rankings are based on the opinions of more than 125,000 consumers about 1,500 brands across 106 categories, Kantar said.
The largest category by total brand value is Financial Services, worth $108.2 billion; Axis Bank (No. 17; $5.6 billion) is one of the top 10 risers, the report said.
Digital payment app, PhonePe (No. 21; $4.5 billion) is the highest newcomer, followed by fintech brand, Cred (No. 48; $2.0 billion), photo and video sharing app, ShareChat (No. 67; $1.3 billion) and entertainment platform, Star (No. 71; $1.3 billion).
This year, the automotive category produced the two fastest risers TVS and Mahindra, ranked at 51 and 47 respectively with a brand value of $1.90 billion and $2.01 billion.