With a value growth of 10.3% in 2023 as compared to 2022, Tata Group became the only Indian brand with a valuation of over $25 billion
New Delhi, NFAPost: At $26.38 billion, the Tata Group retained its position as the most valued brand in India, new rankings released by Brand Finance showed. With a value growth of 10.3 per cent in 2023 as compared to 2022, Tata Group became the only Indian brand with a valuation of over $25 billion.
“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,” said Savio D’Souza, director at Brand Finance.
Notably, Tata Group is the only Indian brand to feature in the top 100 of the Brand Finance Global 500 2023.
According to Brand Finance India 100 2023, Infosys retained the second spot in the rankings with a brand value of $13 billion. It was followed by the Life Insurance Corporation of India (LIC) with a value of $9.7 billion.
Interestingly, with a brand value of $7.5 billion, Airtel stood ahead of the Jio Group in the rankings. Jio and Airtel have been closely competing in the 5G space in India since its launch last year. Jio Group stood in the 11th spot while its parent Reliance Group stood in the fifth spot with a brand value of $7.35 billion.
Among the banks, the State Bank of India (SBI) had the highest brand value of $7.33 billion. It was followed by HDFC Bank and ICICI Bank.
The brands in the auto, metals, building materials, and hospitality sectors saw the steepest rise in brand value.
“Brands in the Metals sector, such as Tata Steel, Hindalco, and Vedanta have displayed remarkable growth off the back of a revival in infrastructure & greenfield investments in India over the past year,” the report said.
“Mahindra Auto, Tata Motors, and Maruti Suzuki have all clocked double-digit brand value growth, driven by the impetus towards an electric revolution in India and the emergence of pent-up demand following the pandemic. Taj Hotels has also posted significant financial growth through organic and inorganic expansion of footprint,” it added.
Moreover, Raymond emerged as the most valuable clothing brand in India with an 83.2 per cent rise in brand value to $273 million.
“This increase in brand value helped the brand move up 55 spots to rank 94th in the India 100 ranking for 2023,” the report said.
