IT firms, banks dominate India’s most valuable brands
– It is a titanic conflict. After holding the top spot as India’s most valuable brands for a while, HDFC Bank has handed TCS the top spot. The domestic IT juggernaut took first place in Kantar Brandz India’s 2022 Rankings with a brand worth of $45.52 billion.
The brand value of TCS increased by 212% from 2020 and 2022. The corporation rose two spots in the rankings to overtake HDFC Bank, which had held the top spot since the Kantar BrandZ India ranking’s launch in 2014. TCS, incidentally, also won this year’s global Kantar BrandZ ranking as the top Indian brand.
With a brand valuation of $32.75 billion, HDFC Bank came in at number two in the most recent Indian survey. State Bank of India (at number six), Kotak Mahindra Bank, and ICICI Bank, with respective brand valuations of $13.63 billion, $11.9 billion, and $11 billion, were the other banks in the top 10.
Other top 10 companies included Jio ($12.39 billion), Airtel ($17.45 billion), Asian Paints ($15.35 billion), LIC ($12.39 billion), and TCS-peer Infosys ($29.22 billion) (10.7 billion). According to the data, Infosys was the greatest gainer among the top 10, with a brand value increase of 554% since 2020.
Related Articles
India’s most valuable brands
The only two in the top 10 to see a decline in their rankings were LIC and Jio. Jio dropped 3 ranks, while LIC dropped 5 spots.
“Indian businesses have the opportunity to both participate in and drive this growth by painting their own revolutionary vision as India marches towards the objective of a $5 trillion GDP,” Kantar continued.
Compared to Europe, where luxury and banking companies predominate, India’s list is notable for the prominence of IT and tech-related firms. Meanwhile, beer companies topped the list in Latin America.
India has recovered quickly from COVID, but Kantar cautioned that there are still significant hurdles ahead and that the conflict in Europe and growing prices may exacerbate the pandemic’s long-term impacts.
