Value of top 100 Indian brands up 2% in 2021; The most valuable Tata group
The total value of India’s top 100 brands grew by 2%, from $ 162.1 billion in 2020 to $ 164.9 billion in 2021, according to the latest Brand Finance India 100 2021 report. This increase in value branding in the first year of the pandemic is an impressive achievement given the global economic crisis that followed the implementation of national lockdowns in March 2020, when commercial activity was halted, affecting both production and consumption.
Among the brands topping the list are Tata Group, Reliance Industries and Mahindra Group. In BFSI, HDFC Bank took over State Bank of India as the best financial brands.
Tata Group retained the title of India’s most valuable brand with a huge lead with a brand value of $ 21.3 billion. Present in more than 100 countries on six continents and employing more than three quarters of a million people, the TATA Group is a force to be reckoned with on the global stage, according to the report. With 30 companies under the umbrella of the TATA Group, ranging from Tata Steel and Tata Motors to TCS and Tata Consumer Products, the brand has successfully protected itself from the damage caused by COVID-19 – this year recording a 6% increase in brand value.
There are eight other conglomerate brands in the Brand Finance India 100 2021 ranking, which accounts for over a quarter of the total brand value, making it the most valuable brand category in India. Reliance Industries (up 9 percent to $ 8.1 billion) and Mahindra Group (down 6 percent to $ 5.4 billion) are in 4th and 9th place, respectively.
Ajimon Francis, Managing Director of Brand Finance India, commented: âDespite being one of the hardest hit countries throughout the COVID-19 pandemic, Indian brands have shown remarkable resilience in the face of to the challenges that have ensued since the first foreclosure in March 2020. Plus over the past year, the top 100 top-valued brands nationwide saw a 2% increase in total brand value, demonstrating their strength. Yet the current national health emergency presents an even greater challenge than last year’s lockdown.
In these difficult times for all of India, brands will have to play their part to support the recovery. “
After conglomerates, banking is India’s second most valuable sector, with its 16 brands accounting for 16% of the total brand value in the ranking. Indian banks have resisted the global industry trend, recording cumulative brand value growth of 8% year-on-year.
HDFC Bank became India’s most valuable banking brand, up 11% to $ 6.6 billion and ranking 5th in the rankings, ahead of last year’s most valuable Indian banking brand, State Bank of India (down 9% to $ 5.8 billion) which is in 7th place.
ICICI claimed the spot as India’s third most valuable banking brand, with the brand’s value rising 23% to $ 3.5 billion. This success follows the initiatives taken in 2018 to seek more innovative banking solutions, with a focus on digital and technological processes. The Union Bank of India recorded the fastest year-over-year increase in brand value in the rankings, rising 163% to $ 1.2 billion and simultaneously climbing 39 places to claim 31st place.
The third most valuable industry in India is IT services. Tata Groups, IT Services Company The value of the TCS brand jumped 11% to $ 14.9 billion, representing a significant portion of the brand value of the TATA Group conglomerate.
Infosys is the highest ranked standalone IT services brand and 3rd in the 2021 Brand Finance India 100 overall ranking, moving up one spot from last year after strong brand value growth of 19% to 8.4 billions of dollars.
Among Indian IT services players, LTI is the fastest growing IT services brand this year, not only in India but also globally, registering an impressive 68% growth in brand value to 982 million of dollars. Over the past five years, LTI has consistently experienced double-digit year-over-year growth and shows no signs of slowing down
Other IT service brands HCL (up 13% to $ 5.5 billion), Tech Mahindra (up 11% to $ 2.3 billion – included in the brand value of the Mahindra group conglomerate ) and Mphasis (up 13% to $ 536 million), all recorded healthy increases in brand value this year.
Another IT major, Wipro (down 1% to $ 4.3 billion), has fallen down but remains a formidable player in the IT services arena.
A notable challenger brand in the market, Hexaware quickly rose through the ranks, gaining 10 places since last year.
In addition to measuring overall brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics assessing marketing investment, stakeholder fairness, and business performance. According to these criteria, Jio has claimed the title of India’s strongest brand as well as the world’s strongest telecommunications brand, according to the Brand Finance Telecoms 150 report 2021, with a Brand Strength Index score of 91.7 out of 100 and the Elite AAA + brand strength rating.
Although it was not founded until 2016, Jio quickly grew to become the largest mobile network operator in India and the third largest mobile network operator in the world, with nearly 400 million subscribers.