$45.5-bn brand value makes TCS as India's top label
India’s largest software exporter’s brand value has been accelerated by global demand for automation and digital transformation following Covid-19; Infosys ($29.2bn) rocketed up to No:3 from 12th position; ICICI Bank ($11bn) climbed 2 places to No:9; SBI ($13.6bn) also rose by 4 places to No:6
- Brand value rises 35% CAGR since 2020, when Covid-19 hit India
- India's top-75 brands are worth $393 bn
- It's equivalent to 11% of India's national GDP
- With $32.7bn, HDFC Bank at No:2
- HDFC Bank held the top position since the first ranking was unveiled in 2014
Mumbai: India's strongest brands have bounced back from the pandemic to increase their brand value by a massive 35 per cent CAGR since 2020, when Covid-19 hit the country. India's top-75 brands are worth a combined $393 billion, equivalent to 11 per cent of India's national GDP.
The growth rate of the Kantar BrandZ Top 75 Most Valuable Indian Brands far outpaces the rate of growth being posted in other major markets around the world.
Tata Consultancy Services ($45.5 billion) is the new number one most valuable Indian brand, claiming the top spot from HDFC Bank (no.2, $32.7bn), 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.
Talking to Bizz Buzz, Soumya Mohanty, Managing Director, Insights Division, Kantar, says: "TCS is not only having the highest capitalisation, but also that the company as a B2B service provider has emerged quite strong for its customers. Moreover, its treatment with its employees was also quite good."
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 ($29.2bn), which has rocketed up to No.3 from 12th position, and ICICI Bank ($11bn), which has climbed two places to No.9. State Bank of India ($13.6bn) has also risen four places to No.6.
There are brands from 23 different categories in the 2022 Indian Top 75. There are a total of 14 newcomers, from 11 categories – including online gaming, education, apparel and real estate, reflecting the diversity and dynamism of the Indian economy.
Technology and banking brands account for over half of the total value. Six B2B tech brands and 11 consumer tech brands contribute 35 per cent to the total value of the ranking, reflecting the rise of tech 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. 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; $17.4bn) and Jio (No.10; $10.7bn), which took full advantage of growth opportunities as everything moved online, from education to work to parties.
Key newcomers to the ranking include Vi (No.15; $6.5bn); formed from a merger between Vodafone and Idea, Byju's (No.19: $5.5bn), the educational technology brand that has become India's most valuable education brand, and Adani Gas (No.21; $4,5bn).
Deepender Rana, Executive Managing Director- South Asia, Insights Division, Kantar, says: "India's leading brands have grown at an exceptional rate, despite global economic headwinds, putting the disruption from Covid-19 behind them. Indeed, they have both driven and benefited from the transformation in consumer and business behaviour as a result of Covid-19, especially where it relates to the use of technology. The challenge now is to sustain momentum as inflation bites worldwide and consumers and businesses adjust to the new normal. Brand owners will need to work harder to identify and build on what makes worth paying for and ensure RoI on their marketing expenditure to avoid a margins squeeze."
Kantar BrandZ has identified four fundamentals responsible for powering brand growth: function, convenience, experience and exposure. India differs from other markets around the world, however, in that a brand's sustainability credentials and purpose matter more.
TCS is not only having the highest capitalisation, but also that the company as a B2B service provider has emerged quite strong for its customers. Moreover, its treatment with its employees was also quite good
-- Soumya Mohanty, MD, Insights Division, Kantar