The salt-to-software conglomerate Tata group has retained its position as India’s most valuable brand and has shot past the $25 billion mark, according to a report put out by Brand Finance. This is an exercise conducted every year by the global brand valuation consultancy. Meanwhile, IT major Infosys has retained the second position.
“Amidst the post-pandemic landscape and geopolitical uncertainties, India’s top 100 most valuable brands have collectively exhibited growth, with their total value approaching $2 trillion since the last valuation on January 1, 2022,” said Brand Finance. With the help of publicly available data, over 250 Indian brands have been assessed to produce the Brand Finance 100 2023 report.
Specifically, on the Tata group, its brand value has risen 10.3 per cent compared to last year to $26.4 billion. This marks the first instance of any Indian brand hitting such a high valuation. “The Tata Group is the only Indian brand to feature in the top 100 of the Brand Finance Global 500 2023 gaining seven ranks in 2023,” according to the statement. The reason, said Savio D’Souza, Director Brand Finance, is the way in which the group has undergone a strategic transformation over the last two years, by embracing digitalisation and harnessing the power of technology across its diverse portfolio. “The group has long been a trailblazer in promoting community welfare and sustainability, setting an example even before it became a global buzzword. Notably, the Tata Group has achieved the remarkable feat of being ranked 49th globally in sustainability perceptions value, according to our inaugural global sustainability perceptions index.”
In the case of Infosys, it was its ability to retain its position “amid tough geo-political conditions in the IT services industry.” Other prominent findings include the Mahindra Group entering the list of the top 10 most valuable brands. It was placed at the seventh position with a brand value of $7 billion, Eric represented a 15 per cent increase.