Tata Consultancy Services (TCS) has emerged as India’s most valuable brand according to the Kantar BrandZ Top 75 Most Valuable Indian Brands 2022 report on the back of accelerated global demand for automation and digital transformation following the pandemic.
TCS took the top spot with its brand value pegged at $45.5 billion followed by HDFC Bank ( $32.7 billion) and Infosys ($29.2 billion) grabbed the second and third spot, respectively. Other companies to be ranked among the top ten in terms of brand values included Airtel, Asian Paints, State Bank of India, LIC, Kotak Mahindra Bank, ICICI Bank and Reliance Jio.
The Kantar report stated that Indian brands witnessed strong bounce back and have increased their brand value by nearly 35 per cent CAGR since 2020 when the pandemic hit the country.
”India’s top 75 brands are worth a combined $393 billion, equivalent to 11 per cent of India’s national GDP. The growth rate of the Kantar BrandZ Top 75 Most Valuable Indian Brands far outpaces the rate of growth being posted in other major markets around the world,“ the report noted.
Brands from 23 different categories made it to the 2022 Indian Top 75.
“There are a total of 14 newcomers, from 11 categorie—including online gaming, education, apparel and real estate, reflecting the diversity and dynamism of the Indian economy,” the report added.
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Deepender Rana, Executive Managing Director-South Asia, Insights Division, Kantar said, “India’s leading brands have grown at an exceptional rate, despite global economic headwinds, putting the disruption from Covid-19 behind them. Indeed, they have both driven and benefited from the transformation in consumer and business behaviour as a result of Covid-19, especially where it relates to the use of technology. The challenge now is to sustain momentum as inflation bites worldwide and consumers and businesses adjust to the new normal.”
Consumer tech brands in the top 75 rankings in terms of brand values included Flipkart, Bjyu’s, Swiggy, Nykaa and Zomato reflecting the rapid adoption of online channel by Indian consumers, the report noted.
Soumya Mohanty, Managing Director, Insights Division, Kantar added, “Purposeful and sustainable brands are rewarded. Indian consumers look further than the brand attributes that affect them personally as they want brands to improve people’s lives and have a positive impact on wider society. They vote with their wallets, choosing brands they see as ‘doing the right thing.”