- Tata Group remains India’s most valuable brand, surpassing a brand value of US$25 billion for the first time.
- Infosys maintains its 2nd position in the IT Services industry despite challenging geopolitical conditions.
- Mahindra Group leads as the fastest-growing brand in the top ten, including Mahindra Auto among the fastest-growing global auto brands.
- Taj, the luxury hotels giant, retains its position in second year as India’s strongest brand, boasting a Brand Strength Index score of 89.4 out of 100.
- Raymond is the fastest growing brand, up 83.4.
- Persistent Systems get ahead by 25 places, the most by any Indian brand.
- Brands in the auto, metals, building materials, and hospital sectors experience a significant surge.
- Royal Enfield, MRF Tyres, Mahindra Auto, TCS, Infosys, Amul, and Taj Hotels secure top global positions in their respective sectors, representing India with excellence.
Top 100 Indian brands show resilience among global turmoil
According to Brand Finance, a prominent brand valuation consultancy, India’s top 100 most valuable brands have shown growth, nearing a combined value of USD 2 trillion compared to the previous year. This growth comes amidst the backdrop of the post-pandemic scenario and geopolitical uncertainties.
Each year, Brand Finance examines and evaluates 5,000 prominent brands, publishing more than 100 reports that rank brands in various sectors and countries. By analyzing publicly accessible data, they have evaluated over 250 Indian brands to create the Brand Finance India 100 2023 report. This comprehensive report ranks the top 100 most valuable and resilient Indian brands globally and includes sector-specific analysis and top brands within each sector.
Tata Group breaks US$25 billion mark
Tata Group maintains its position as India’s most valuable brand and continues to experience significant growth with a double-digit increase (10.3%) in brand value, reaching an unprecedented milestone of US$26.4 billion. This achievement marks the first time an Indian brand has surpassed such a remarkable brand value threshold.
Tata Group stands as the sole Indian brand to secure a position in the top 100 of the Brand Finance Global 500 2023, climbing seven ranks compared to the previous year. This prestigious annual ranking showcases the world’s 500 most valuable brands.
Savio D’Souza, Director, Brand Finance, commented:
“Over the last 2 years, the Tata Group has undergone a significant strategic transformation, embracing digitalisation and harnessing the power of technology across its diverse portfolio. The group has long been a trailblazer in promoting community welfare and sustainability, setting an example even before it became a global buzzword. Notably, the Tata Group has achieved the remarkable feat of being ranked 49th globally in Sustainability Perceptions Value, according to our inaugural global Sustainability Perceptions Index, conducted earlier this year.”
Mahindra group rising rapidly, now among India’s top 10 most valuable brands
The Mahindra Group has made significant progress and is now ranked as the 7th most valuable brand in India, experiencing a 15% increase in brand value, amounting to US$7 billion. The Group demonstrated outstanding performance in the previous fiscal year, achieving record profits of over Rs 10,000 crore and generating revenues of 1,21,269 crore. The remarkable growth in their Auto business, along with sustained progress in group companies like IT Services and Financial Services, has solidified the Mahindra brand’s reputation as a formidable force. The Group consistently excels in various global industry rankings and assessments, particularly in Environmental, Social, and Governance (ESG) aspects.
Taj is India’s strongest brand
Brand Finance not only assesses brand value but also evaluates the relative strength of brands, considering various factors like marketing investment, familiarity, loyalty, staff satisfaction, and corporate reputation. Brand strength, along with revenue forecasts, significantly contributes to the overall brand value. According to these criteria, Taj emerges as India’s strongest brand with a brand value of US$374 million. It achieves an impressive Brand Strength Index (BSI) score of 89.4 out of 100, earning an elite AAA brand strength rating.
Auto, Metals, Building Materials and Hospitality sectors on the rise
Over the past year, brands in the Metals sector, including Tata Steel, Hindalco, and Vedanta, have demonstrated impressive growth, fueled by the resurgence of infrastructure and greenfield investments in India. Mahindra Auto, Tata Motors, and Maruti Suzuki have all experienced double-digit growth in brand value, primarily attributed to the push for an electric revolution in India and the release of pent-up demand following the pandemic. Taj Hotels has also achieved noteworthy financial growth through both organic and inorganic expansion of its presence.
Some standout performances from Indian brand value analytics:
- Raymond: Raymond, the leading clothing brand in India for 2023, has witnessed an impressive surge of 83.2% in brand value, reaching a total of US$273 million. This remarkable increase in brand value has propelled Raymond up by 55 positions, securing the 94th rank in the India 100 ranking for 2023.
- Mahindra & Mahindra (M&M): Mahindra & Mahindra (M&M), a leading automobile brand, has experienced an impressive 53.8% increase in brand value, reaching US$3.6 billion. This growth positions M&M as the fastest-growing automobile brand in India and among the top 10 globally for 2023. The company holds a substantial market share of 19.1% among SUV manufacturers and dominates the Indian tractor market with a share of 41.2%. M&M also leads the light commercial vehicle category in India. With the announcement of its global vision for Born Electric vehicles and plans to enter the passenger electric vehicle market, M&M demonstrates its commitment to innovation. Furthermore, M&M stands out as the best-performing Indian auto stock in FY23.
- Airlines: Over the past three years, the Indian airline industry has experienced significant changes, including government divestment, cost pressures, intense competition, and a surge in demand following a prolonged lockdown. In this landscape, Indigo has emerged as the most valuable airline brand, boasting a brand value of US$832 million and securing the 45th rank in the India 100. Notably, Air India has showcased an impressive recovery, witnessing a substantial 18% growth in brand value, amounting to US$365 million.
Ajimon Francis, Managing Director, Brand Finance India, commented:
“For the past decade, brands from India have embraced the ‘Made in India’ tag with pride, actively contributing to their own brand building while simultaneously nurturing the nation’s brand identity. As a result, formidable brands such as Tata, Infosys, SBI, Airtel, Reliance, Mahindra, Taj Hotels, L&T, Bajaj Auto, Aditya Birla, Tech Mahindra, MRF all continue to punch well above their weight on the Global stage.”