Tata Consultancy Services (TCS), a homegrown IT services firm, has been recognized as the fastest growing IT services brand of the decade, and one of the fastest growing IT services brands of 2019, by Brand Finance, brand valuation firm, in its 2020 Global 500 report released at World Economic Forum (WEF) at Davos.
The report highlights a decade of significant brand growth for TCS, with its brand value increasing nearly six-fold since 2010, to $13.5 billion in 2019, making it the fastest growing brand of the decade and positioning it among the top three brands in IT services globally. Further, the year-on-year growth in brand value in 2019 makes TCS the fastest growing among the top three IT Services brands.
TCS’ chief executive, Rajesh Gopinathan has been named among the top 100 Global CEOs worldwide, as per the Brand Guardianship Index which rates CEOs on how well they measure up as brand ambassadors, based on marketing investments, growth in stakeholder equity and business performance.
“Our principal goal is to be the primary growth and transformation partner for our customers," said N Ganapathy Subramaniam, chief operating officer, TCS.
David Haigh, chief executive, Brand Finance noted that there is plenty to celebrate for TCS, which has continued its brand growth trajectory, consolidating its position as a top three global IT Services brand.
"As we’ve seen over the past year, this growth has been driven by TCS’ laser-focus on fostering long-lasting partnerships with its customers, but also making enduring and meaningful investments in the communities where it operates around the world," he added.
Apart from TCS, other key Indian brands which registered positive growth and scaled up in the yearly ranking include Tata Motors (88), LIC (238), Reliance (244), Infosys (281), State Bank of India (322), HDFC Bank (348), Mahindra Group (361) and HCL (423). Squeezed by OTT competition and challenger brands, telecom firm Airtel brand ranking declined from 425 in 2019 to 471 this year. Indian Oil ranked at 415 and Wipro ranked at 491 were also featured on the list.
Amazon topped the ranking for third consecutive year becoming the world's most valuable brand. The technology giant also became the first brand to exceed US$200 billion value mark globally.