IT services firm Tata Consultancy Services, which displaced long-time topper HDFC Bank, became India’s most valuable brand in 2022, according to a report by market data and analytics firm Kantar.
TCS, with a brand value of $45.5 billion in 2022, is followed by HDFC Bank at $32.7 billion, said Kantar’s BrandZ report. HDFC Bank has held the No. 1 position since the rankings were unveiled in 2014.
In his report of the top 75 brands, Kantar said that the global demand for automation and digital transformation post-pandemic has boosted the brand value of TCS.
Kantar said that after retreating from the shock of the pandemic, India’s top 75 brands are now worth a combined $393 billion or 11% of India’s national GDP. These brands have registered a Compound Annual Growth Rate (CAGR) of 35% in their brand value since 2020.
Technology providers and B2B brands improved the rankings this year, contributing to more than a third of total brand value. Kantar said that purpose and sustainability are key drivers of value addition for the success of the brand.
Kantar’s annual global and local brand valuation rankings are based on company financial data, coupled with brand equity research. Kantar’s research ranks brands based on their ability to meet one of the following criteria, including whether the corporate parent is listed on a stock exchange in India, whether the brand originated in India and its The corporate parent is listed on a recognized stock exchange, and the brand is privately owned, but the financial details are publicly available. Indian unicorn brands should have their latest valuation publicly available.
Kantar BrandZ identified brand function, convenience, experience and exposure as key metrics to drive brand development.
The top 10 most valuable Indian brands together contribute to more than half of the ranking’s total value.
Two new additions to the list were made in the top 10 – Infosys with a brand value of $29.2 billion and ICICI Bank with a brand value of $11 billion.
Notable newcomers to the rankings included telecommunications service provider V, which was formed from the merger between Vodafone and Idea, which was valued at $6.5 billion and ranked 15th; Edtech firm Byju’s ranked 19th; And Adani gas is worth $4.5 billion, which is at number 21. The list also includes brands like beauty retailer Nykaa and fantasy sports platform Dream11.
A senior Kantar official said the pandemic and its consequent use of technology has impacted this year’s rankings.
“India’s leading brands have grown at an extraordinary rate, surpassing the disruption from COVID-19, despite global economic constraints. In fact, they have inspired and benefited from changes in consumer and business behavior as a result of COVID-19, especially where it pertains to the use of technology. Deepender Rana, Executive Managing Director, South Asia, Insights Division, Kantar said, the challenge now is to bite inflation and adjust consumers and businesses to the new normal across the globe.
Among those listed in the rankings – brands from the technology and banking sectors account for more than half of the total value of the 75 brands. The rankings listed six business-to-business tech brands and 11 consumer tech brands, which contributed 35% to the ranking’s total value – in a move indicating the deeper impact of digitization and technology adoption.
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