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HDFC Bank has retained the top spot for the fifth year in a row in WPP and Kantar Millward Brown’s BrandZ Most Valuable Indian Brands list, clocking 21 per cent growth to $21.7 billion.
Since its launch five years ago, the total value of the BrandZ top 50 Indian brands has more than doubled to $146.1 billion.
Compare this to a rise of 76 per cent for the BrandZ’s top 50 Chinese brands, and 60 per cent for the top 50 global brands over the same period, CVL Srinivas, Country Manager India WPP, said.
“India’s five-year brand value growth is stronger than the BrandZ’s Chinese and global rankings,” he said.
There are seven new entries in the top 15. Insurance brand LIC, a new entrant, secured the second spot at $19.8 billion, given the key role played by its pension plan business.
Tata Consultancy Services secured the third spot at $15 billion, having leveraged digital technologies to drive growth and business transformation.
Other new high-ranking brands include e-commerce retailer Flipkart (11th, $4.1 billion), e-commerce payment wallet Paytm (12th, $4.1 billion) and Zee TV (15th, $3.8 billion).
The new 2018 ranking has grown to 75 brands from 50 earlier reflecting the strength of India’s growing economy and marketplace with emerging local brands..
Emerging local brands
David Roth, CEO, The Store WPP (EMEA and Asia) said the decision “to move from 50 Indian brands to 75 was a reflection of the massive market change that is being witnessed in India.” HDFC has built a reputation for its sustainable livelihood initiative by introducing smaller loans of $175,He said “brand HDFC is hailed as a pioneer by WPP across the world in delivering time and again to consumers on several parameters.”
Srinivas said a strong brand heritage was no longer essential for developing brand trust. The study showed that the new brands that proactively build and reinforce trust as an integral objective, rather than relying on it being a by-product of their main offering, can do well.
Flipkart got 117 for trust on a base line of 100, having transformed e-commerce, while the investment into Paytm by Warren Buffett’s Berkshire Hathaway “adds credibility to the relatively youthful brand, making it one of the India’s most valuable start-up brands.”
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