India Inc. brand value is now worth over $100 billion
The past few months have been tumultuous for businesses worldwide. The same was the case for India Inc. The global macroeconomic uncertainties have affected a few of the major sectors in the country. However, things aren't all that bad. At least, not in terms of brand value. India Inc.'s combined brand value crossed $100 billion for the first time ever.
Why does this story matter?
Brand value is a perceived value. It sets a business apart from its competitors. It gives a company a competitive advantage when it comes to its target audience. At a time when inflationary headwinds are making a dent in consumer demand, brand value gains more importance. Therefore, it is not a small step for India Inc. to cross the elusive $100 billion mark.
Top 50's brand value increased by 167% in 10 years
Per global brand consultancy firm Interbrand's report on India's top 50 most valuable brands, the list now has a combined brand value of over Rs. 8,31,005.7 crore ($100 billion). Over the past decade, the value of India's top 50 brands has increased by 167%. Interbrand measures brand value on the basis of trust, distinctiveness, and empathy.
TCS is India's most valuable brand
Tata Consultancy Services (TCS) topped the brand value chart for 2023 with a value of Rs. 1,09,76.6 crore, while Mukesh Ambani-led Reliance Industries came in second with a brand value of Rs. 65,320.8 crore. Rounding out the top three is TCS's rival Infosys. TCS saw a 153% rise in its brand value in the last decade.
The value of the top 10 exceeds the remaining 40
Other brands in the top 10 list include HDFC, Jio, Airtel, LIC, Mahindra, State Bank of India, and ICICI. The top five brands alone account for a staggering 40% of the list's overall value. The combined value of the top 10 brands stands at Rs. 4,94,992 crore, which is more than that of the remaining 40 on the list.
Tech sector contributes the most to the list
The report also talks about the contribution of different sectors. The technology sector leads by contributing 31% to the total brand value of the list. It is followed by financial services and diversified industries. FMCG is the fastest-growing sector over the last ten years with a compound annual growth (CAGR) of 25%. Meanwhile, technology has a CAGR of 14%.
