Tata retains title of India's most valuable brand, Taj strongest brand for 2nd year in a row: Brand Finance report
2 min read 07 Jun 2023, 06:49 AM ISTThe Tata Group has retained its title as India's most valuable brand with a brand value of $26.4bn, marking the first Indian brand to break the $25bn mark. India's top 100 most valuable brands collectively showed growth, with total value approaching $2tn.
PremiumThe Tata Group has retained its title of India’s most valuable brand and is racing ahead with double digit brand value growth of 10.3 per cent to $26.4 billion. This is the first time that an Indian brand has breached the brand value-mark of $25 billion to feature in the top 100 of the Brand Finance Global 500 2023 – the annual ranking of the world’s top 500 most valuable brands.
Amid the post-pandemic landscape and the ongoing geopolitical uncertainties, India's top 100 most valuable brands collectively exhibited growth, with their total value approaching $2 trillion since the last valuation on January 1, 2022, according to leading brand valuation consultancy, Brand Finance.
“Over the last two 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, Brand Finance.
Notably, the Tata Group has achieved the remarkable feat of being ranked 49th globally in Sustainability Perceptions Value, according to our inaugural global Sustainability Perceptions Index, conducted earlier this year,'' he added.
In addition to measuring the overall brand value, Brand Finance also evaluates the relative strength of brands, based on factors such as marketing investment, familiarity, loyalty, staff satisfaction, and corporate reputation. Alongside revenue forecasts, brand strength is a crucial driver of brand value. According to this criteria, luxury hotels giant Taj Group with a brand value of $374 million, became India’s strongest brand for the second year in a row, according to Brand Finance.
The Mahindra group has also leaped into the position as India’s seventh most valuable brand, up 15 per cent to a brand value $7 billion. In the last fiscal, the auto major recorded profits crossing ₹10,000 crore for the first time on revenues of 1,21,269 crore.
Brands in the metals sector, such as Tata Steel, Hindalco and Vedanta clocked robust growth off the back of a revival in infrastructure and greenfield investments in India over the past year. Mahindra Auto, Tata Motors and Maruti Suzuki 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, according to Brand Finance report.
Raymond became the most valuable clothing brand in India for 2023 and posted 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 the 94th rank in the India 100 ranking for 2023.
“For the past decade, brands from India have embraced the ‘Made in India’ tag with pride, actively contributing to their own brand building while simultaneously nurturing the nation's brand identity. As a result, formidable brands such as Tata, Infosys, SBI, Airtel, Reliance, Mahindra, Taj Hotels, L&T, Bajaj Auto, Aditya Birla, Tech Mahindra, MRF all continue to punch well above their weight on the global stage,'' said Ajimon Francis, Managing Director, Brand Finance India.
In addition, auto major Mahindra & Mahindra (M&M) saw a brand value growth of 53.8 per cent to $3.6 billion, making it the fastest growing automobile brand in India and among the top 10 fastest growing auto brands globally for 2023, said the report.
The company commands a revenue market share of 19.1 per cent among SUV manufacturers, while its tractor division – the largest in the world – clocks a 41.2 per cent market dominance in India.
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