Many Indian brands remain heavily reliant on the domestic market.
New Delhi: Leading market research firm Kantar has released its report on “the most valuable brands in India in 2024”. The report has placed TCS as the most valuable brand in India in 2024 for the third straight year. With this, TCS has equalled 22% of the total value of India’s top 75 most valuable brands.
Which are the top 10 brands?
- TCS
- HDFC Bank
- Airtel
- Infosys
- State bank of India (SBI)
- ICICI Bank
- Jio
- Asian Paints
- HCLTech
- LIC
Investments in innovation
“With a brand value of $49.7 billion, TCS has seen a 16% rise versus last year, driven by investments in innovation, particularly in AI and digital transformation,” said the Kantar BrandZ Most Valuable Indian Brands Report.
“Brands across business sectors have fuelled the growth, with 54 brands boosting their brand value over the past year”, says the Kantar report adding “This impressive growth outpaces most other BrandZ rankings globally and closely mirrors the 20% increase seen in the Global Top 100.”
Domination of financial services brands
The list is dominated by financial services brands as 17 brands contributed 28% of the ranking overall brand value. HDFC Bank is second with a valuation of $38.3 billion while state-run State Bank of India is fifth with a valuation of $18 billion. ICICI Bank has been ranked sixth with a valuation of $15.6 billion and LIC at number 10 with a valuation of $11.5 billion.
Fastest growing brand
Food delivery platform Zomato has seen the fastest growth, doubling its brand value to $3.5 billion and has been ranked 31st.
Many Indian brands remain heavily reliant on the domestic market, with overseas contribution accounting for only 26% of the Top 75, and offering an unseized opportunity to find new spaces to grow beyond their borders.
Automobile top guns
Automotive sector is led by Maruti Suzuki, which is in 17th position, followed by Bajaj Auto which has been ranked at 20. Mahindra & Mahindra has a 78% growth in brand valuation and has been ranked at 30th position.
“The success of models like XUV700, Scorpio N, and Thar, which continue to see high demand and long waiting periods, has solidified Mahindra’s leadership in mid and premium SUVs,” it said.
The 2024 ranking is based on opinions of 1.41 lakh respondents on 1,535 brands across 108 categories.
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