Brand India is Blooming

• Tata Group retains No.1 position with an impressive 9% growth in brand value (USD28.6 billion), Infosys ranks second & HDFC Group catapults to 3rd spot as most valuable Indian brand, propelled by its monumental merger with HDFC Ltd.   

• Taj continues to grow in stature as strongest Indian brand ranked with AAA+ brand strength rating  

• Banking brands post impressive double-digit growth in brand value with Indian Bank, IndusInd Bank & Union Bank leading the pack  

• Telecoms sector achieves 61% growth in brand value, followed by Banking (26%) & Mining, Iron & Steel sectors recording 16% average growth 

• Fastest growing Indian brands: Westside leads with 122% growth in brand value, ahead of Motherson (86%) & Sonata Software (83%)  

• Tata Group leads with highest Sustainability Perceptions Value & HDFC Bank has highest positive gap value 

Tata Group, with a brand value of USD28.6 billion, has retained its title as India’s most valuable brand – according to a new report from Brand Finance, the world's leading brand valuation consultancy. Tata Group’s brand value highlights the first time an Indian brand is close to the USD30 billion brand value mark, reflecting the prevailing optimism in the Indian economy.    

Savio D’Souza, Director, Brand Finance, commented:

Over the last triennium, the Tata Group has orchestrated a rigorous organisational refinement, wholeheartedly embracing digital transformation and cutting-edge technology across its manifold enterprises.   

“Concurrently, its brand prominence has ascended meteorically, propelled by strategic Indian Premier League sponsorships, aeronautical rebranding endeavours, and an expansive footprint bolstered by the flourishing retail domains of Westside and Tata Consumer products. Moreover, the conglomerate persistently pioneers in societal well-being and ecological stewardship, establishing benchmarks of global eminence.”    

Infosys ranks second & HDFC Group catapults to 3rd spot as most valuable Indian brand, propelled by its monumental merger with HDFC Ltd.   

That said, other Indian brands exhibiting strong growth include Infosys which maintains its position as India’s second-most valuable brand ranked (brand value USD14.2 billion) with a steady 9% growth in brand value, a commendable achievement considering the slowdown in the IT Services sector at the global level. Jumping to the 3rd spot as India’s most valuable brand ranked this year is HDFC Group (USD10.4 billion), following the merger with HDFC Ltd.  

Taj continues to grow in stature as strongest Indian brand ranked with AAA+ brand strength rating  

Taj, valued at USD545 million, stands as India’s strongest brand ranked, achieving a stellar Brand Strength Index (BSI) score of 92.9 of 100 and an esteemed AAA+ rating for brand strength. This marks Taj's third consecutive year as the top-ranked brand for strength. Additionally, Taj Hotels has shown robust financial growth via both organic expansion and strategic acquisitions.

Telecoms sector achieves 61% growth in brand value, followed by Banking (26%) & Mining, Iron & Steel sectors recording 16% average growth 

Telecoms giants like Jio, Airtel, and Vi have accelerated growth by adapting to evolving consumer device usage patterns. Structural reforms and regulatory improvements in the banking sector have enhanced the brand values of leading public sector banks. State Bank of India (SBI) retains its position as the second most valuable bank ranked in India, holding on to the "banker to every Indian" reputation and boasting a brand value of USD6.9 billion while ICICI Bank made a significant leap with a 33% growth in brand value, reaching USD4.5 billion. Among the fastest-growing Indian banking brands ranked are Indian Bank (brand value up 63% to USD719 million), IndusInd Bank (brand value up 53% to USD1.3 billion), Union Bank of India (brand value up 48% to USD1.5 billion), and Punjab National Bank, which witnessed a 29% year-on-year growth (USD1.4 billion). In the Metals sector, including Tata Steel, JSW Group, Hindalco, and Vedanta, robust expansion has been driven by increased infrastructure and manufacturing investments in India.  

Tata Group leads with highest Sustainability Perceptions Value & HDFC Bank has highest positive gap value 

The 2024 Sustainability Perceptions Index finds that among Indian brands, Tata Group has the highest Sustainability Perceptions Value of USD4 billion. In assessing the gap between sustainability perceptions and performance, HDFC Bank has the highest positive gap value of USD105 million among Indian brands in the rankings.

Other notable performance from Indian brands include: 

• Raymond, the leading Indian apparel brand, records a steady 12% brand value increase to USD305 million. Notably in 2024, Raymond achieves a significant milestone by entering the league of top 10 strongest brands in India for the first time, securing a BSI rating of AAA-. 
• Hexaware emerges as the fastest growing within the top 10 Indian IT Services brands, achieving a robust 20% increase in brand value to USD724 million. This accomplishment is particularly impressive given the current market environment, characterised by geopolitical tensions and a slowdown in client decision-making that has subdued brand value growth for many established players.  
• Zetwerk makes a remarkable debut in the India 100 table, securing the second position among most valuable engineering brands ranked with a brand value of USD543 million. This young company, established only six years ago, has established itself as a leader in manufacturing excellence through its innovative technology-enabled manufacturing services.  Catering to diverse sectors like renewables, defense, automotive, and core engineering, Zetwerk's impressive growth trajectory is reflected by its entry as the 64th most valuable Indian brands ranked this year.  
• Indigo takes flight as the most valuable airlines brand ranked in India this year, achieving an impressive 26% brand value increase, and emerging as the nation’s first airlines brand to surpass the USD1 billion mark (brand value USD1.1 billion). Air India, having overcome initial challenges, also demonstrates positive growth with a 6% brand value increase (brand value USD386 million) while Vistara maintains its upward trajectory with a healthy 55% brand value growth.  
• HMEL (brand value USD656 million) marks a bold entry into our rankings this year, securing the 56th position as the most valuable Indian brand ranked and a leading Oil & Gas brand in Northern India.  A greenfield project and joint venture between HPCL and Mittal Energy Ltd., HMEL leverages cutting-edge technology to achieve high operational efficiency. Sustainability and innovation are at the forefront of HMEL's ethos, solidifying its position as a progressive player in the Indian Oil & Gas sector.  
• Established in 2015, CIEL HR (brand value USD30 million) has quickly emerged as a formidable force in the HR services industry. The company is solidifying its position as the largest HR services brand to capitalise on India's growing HR market. This rapidly growing brand presents a compelling future prospect.  

Ajimon Francis, Managing Director, Brand Finance India, commented:

Emerging into a major voice for the global south, India is presenting itself as a differentiated leader of the “Global South” by setting the narrative of “development, self-reliance and autonomy”. India is today a vital cog in global geo-politics, both with its hard and soft power. India is now hard to ignore. Brand Bharat is blooming.  

“In the past year, India has become one of the most viable destinations for manufacturing, engineering services, knowledge hub for R&D and continues to be the flagbearer of IT services globally. As a result, formidable brands such as Tata, Infosys, SBI, Airtel, Reliance, Taj Hotels, L&T, MRF and all continue to punch well above their weight on the global stage.”