Tata Group is India’s most valuable brand: Report

Tata Group, with a brand value of $ 28.6 billion, has retained its title as India’s most valuable brand according to a new report from brand valuation consultancy Brand Finance released Thursday. As per the Brand Finance India 100 2024 report, the group’s Taj hotel brand has been ranked as the strongest Indian brand.

According to Brand Finance, Tata Group’s brand value highlights the first time an Indian brand is close to the $30 billion brand value mark, reflecting the prevailing optimism in the Indian economy. Infosys ranks second and HDFC Group has catapulted to the third spot as the most valuable Indian brand, propelled by its merger with HDFC Ltd.

Banking brands have posted a double-digit growth in brand value with Indian Bank, IndusInd Bank and Union Bank leading the pack in the report.

The telecom sector has achieved a 61% growth in brand value, followed by banking at 26%. Mining, and iron and steel sectors have recorded an average growth of 16%.

Savio D’Souza, senior director, Brand Finance said over the last triennium, the Tata Group has orchestrated a ‘rigorous’ organisational refinement, ‘wholeheartedly’ embracing digital transformation and cutting-edge technology across its 'manifold' enterprises.

“Concurrently, its brand prominence has ascended meteorically, propelled by strategic Indian Premier League sponsorships, aeronautical rebranding endeavours, and an expansive footprint bolstered by the flourishing retail domains of Westside and Tata Consumer products. Moreover, the conglomerate persistently pioneers in societal well-being and ecological stewardship, establishing benchmarks of global eminence,” he added.

Infosys maintains its position as India’s second-most valuable brand ranked (brand value $14.2 billion) with a steady 9% growth in brand value.

Jumping to the third spot as India’s most valuable brand ranked this year is HDFC Group ($10.4 billion), following the merger with HDFC Ltd.

In addition to measuring overall brand value, Brand Finance stated it also evaluated the relative strength of brands, based on factors such as marketing investment, familiarity, loyalty, staff satisfaction, and corporate reputation. Alongside revenue forecasts, brand strength is a crucial driver of brand value.

The company said Taj, valued at $545 million, stands as India’s strongest brand, achieving a Brand Strength Index (BSI) score of 92.9 of 100 and an AAA+ rating for brand strength. This marks Taj's third consecutive year as the top ranked brand for strength. Additionally, Taj Hotels has shown robust financial growth via both organic expansion and strategic acquisitions, Brand Finance stated in the report.

Ajimon Francis, Managing Director, Brand Finance India said emerging into a major voice for the global south, India is presenting itself as a differentiated leader of the “Global South” by setting the narrative of “development, self-reliance and autonomy”.

“In the past year, India has become one of the most viable destinations for manufacturing, engineering services, knowledge hub for R&D and continues to be the flagbearer of IT services globally. As a result, formidable brands such as Tata, Infosys, SBI, Airtel, Reliance,Taj Hotels, L&T, MRF and all continue to punch well above their weight on the global stage,” he added.

According to Brand Finance, telecom brands such as Jio, Airtel, and Vi have accelerated growth by adapting to evolving consumer device usage patterns. Structural reforms and regulatory improvements in the banking sector have enhanced the brand values of leading public sector banks.

State Bank of India (SBI) retains its position as the second most valuable bank ranked in India, holding on to the "banker to every Indian" reputation and boasting a brand value of $ 6.9 billion while ICICI Bank made a significant leap with a 33% growth in brand value, reaching $4.5 billion. Among the fastest-growing Indian banking brands ranked are Indian Bank (brand value up 63% to $719 million), IndusInd Bank (brand value up 53% to $1.3 billion), Union Bank of India (brand value up 48% to $1.5 billion), and Punjab National Bank, which witnessed a 29% year-on-year growth ($1.4 billion).

Brand Finance stated that in the metals sector, including Tata Steel, JSW Group, Hindalco, and Vedanta, robust expansion has been driven by increased infrastructure and manufacturing investments in India.