Tata Group, with its brand value up 12 per cent to $24 billion, has retained its pole position to be the most valuable brand in the country, said a report by brand valuation consultancy Brand Finance. Tata group strengthened its strategic business and leadership initiatives with brand building activities across the globe, said the report. It puts together India’s top 100 most valuable and strongest brands in its annual Brand Finance India 100 ranking.
With a 52 per cent jump, Infosys is the second most valuable Indian brand. The report said that 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.
Further, while LIC saw a drop in ranking and took the third spot this year in ranking, the brand saw 28 per cent growth in brand value at $11.1 billion. Reliance retained its fourth spot with a brand value of $8.6 billion, up 5 per cent.
Taj Hotel’s brand value is up 6 per cent to $314 million and now 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, according to leading brand valuation consultancy Brand Finance.
The pandemic and subsequent national lockdowns hit the hospitality sector the most and brands had to re-invent their strategies to remain relevant to the need of tourists.
“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.
Brands in the banking saw brand value rise by 16 per cent, IT services brands saw value going up by 15 per cent and telecom brands’ value increased by 7 per cent in India achieving high brand value as the economy is recovering from the impact of Covid-19.
Year 2022 is a tipping point for the Indian IT services industry – as in it, the industry crossed $200 billion in total revenue and $5 million in total workforce. TCS saw its brand value up by 12 per cent to $16.7 billion. Other IT firms like Accenture, Wipro, HCL and Tech Mahindra saw their brand value increase 39 percent, 48 percent, 10 percent and 30 percent respectively. 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.
The Indian telecommunications industry is making its mark globally. India is the world’s second-largest telecommunications market with a subscriber base of 1.16 billion users. Airtel with a brand value of $7.7 billion ranks No 1 in the telecommunication sector in India with an impressive 28 per cent growth in brand value. At the second position, Jio, brand value up 5 per cent to $5.1 billion, shows gains in growth followed by VI, brand value of $767 million, which continues to be resilient despite its numerous business challenges.