Tata Group retained its position as India’s most valuable brand while Infosys and HDFC Group were ranked second and third respectively in the brand finance report.
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What is the brand value of Tata Group?
According to a recent report by brand valuation consultant ‘Brand Finance’, the Tata Group’s brand value across various business sectors has increased by nine per cent to $28.6 billion. According to a statement, the Tata Group is the first Indian brand to be close to achieving a brand valuation of $30 billion.
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Infosys and HDFC are far behind
Information technology (IT) company Infosys also recorded strong growth with nine percent growth. Despite the slowdown in the global IT services sector, its brand value is estimated at $14.2 billion. HDFC Group has become the third largest Indian brand with a valuation of $10.4 billion. HDFC has gained strength following its merger with housing finance company HDFC Ltd last year.
According to the report, the brand value of the banking units has grown in double digits. In which Indian Bank, IndusInd Bank and Union Bank are at the forefront. Telecom sector has seen the highest increase in brand value of 61 percent. After this, banking (26 per cent) and mining, iron and steel sector recorded an average growth of 16 per cent.
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“Telecom companies such as Jio, Airtel and Vodafone Idea have driven growth by evolving consumer device usage patterns,” the report said. Structural reforms and regulatory reforms in the banking sector have increased the brand value of leading public sector banks.