Tata Consultancy Services (TCS) has retained its position as India’s most valuable brand for the third consecutive year.
India is currently one of the fastest-growing economies in the world, with its companies growing at a remarkable rate. Now, according to the new Kantar BrandZ Most Valuable Indian Brands Report, Tata Consultancy Services (TCS) is the country's most valuable brand, with a brand value of $49.6 billion. The company's brand value increased from $42,969 million in 2023 to $49,657 million in 2024 - a staggering 16 % growth. And that particularly owes a lot to its recent investments in AI and machine learning.
Notably, TCS consists of seven Business Technology and Services Platforms, which are collectively worth an estimated $100 billion, equalling 22% of the total value of India’s Top 75 ranking.
Kantar's report further suggests that India’s 75 most valuable brands have a combined value of $450.5 billion - a 19% increase from last year. Without an iota of doubt, this outperforms most other economies across the world today.
Below, let's have a look at which companies are behind TCS in the Top 10 list.
HDFC Bank, the largest private bank in India, holds the second spot among the country's most valuable brands in 2024. The company's brand value this year stands at a whopping $38,286 million.
Notably, as of April 2024, HDFC had a market capitalization of $145 billion, making it the third-largest company on the Indian stock exchanges.
The third position in the list is occupied by telecom service provider, Airtel - with a brand value of $29,856.
It's worth noting that Airtel was recognized as India's second most valuable brand in the first Brandz ranking by Millward Brown and WPP plc.
Infosys is one of the world's leading multinational technology companies and is the second-largest Indian IT company by revenue and the third-largest Indian company by market capitalization. According to Kantar's list, this tech company ranks as the fourth most valuable brand with a value of $25,221 million.
State Bank of India is not only the largest bank in India, but also the only Indian bank to have featured on Fortune Global 500. A few months ago, the company crossed the all-time high market capitalization of ₹8 trillion (8 lakh crore INR).And well, SBI holds the fifth position in the list, with a brand value of $17,979 million.
ICICI Bank is another significant bank in India, with a network of 6,587 branches and 17,102 ATMs across the country. Recently, the company's market capitalization crossed ₹9 lakh crore for the first time, following a share price increase of over 30 percent in 2024.
ICICI Bank ranks 6th in Kantar's list, with its brand value of $15,604 million.
Mukesh Ambani-owned Jio is the largest mobile network operator in India and the third largest mobile network operator in the world. With a brand value of $13,744, the telecommunications company ranks 7th in Kantar's list.
Asian Paints is India's largest paints company by market share, with its manufacturing operations encompassing 15 countries of the world. According to Kantar's list, it has a brand value of $13,555 million, hence is the country's 8th most valuable brand in 2024.
HCLTech, the flagship company of the HCL Group, has emerged as a major player in India's IT space over the years. And with its brand value at $11,815 million, the company ranks 9th in Kantar's list of most valuable Indian brands in 2024.
Finally, Life Insurance Corporation (LIC) which stands at Number 10 on the list. With total assets under management worth ₹52.52 trillion, LIC is currently India's largest insurance company as well as the largest institutional investor. And Kantar's report suggests that it's India's 10th most valuable brand with a $11,499 million brand value.
Zomato, ranking 31st with a value of $3500 million in the list, is the fastest riser with 100% growth in brand value year-on-year.
(Credit: moneycontrolcom)
17 financial services brands collectively contribute 28% of the ranking's overall brand value.
The automotive sector has emerged as a major dominator, thanks to companies like Maruti Suzuki, Bajaj Auto, Mahindra, TVS, and Hero.
