Brand Finance Global 500 2024 Report: Reliance Jio Becomes World’s 17th Strongest Brand; WeChat Tops the List Globally

As per the 18th “Global 500 2024” annual report by Brand Finance, Indian billionaire Mukesh Ambani-led Reliance Jio continues to be India’s top and strongest brand, ranked 17th among the world’s strongest brands in 2024, with a brand strength index (BSI) of 88.9 out of 100.

• Globally, WeChat topped the list with a 94.3 BSI followed by YouTube (92.7), and Google (92.5) in the 2nd and 3rd positions respectively in the strongest brands of 2024.

Note: Brand Finance, the world’s leading brand valuation consultancy in partnership with Infosys, launched the 18th Global 500 2024 at Davos, Switzerland on 17th January 2024.

The report classifies companies into 2 formats

i.World’s Strongest Brands

ii.World’s Most Valuable Brands

Other Indian Brands:

The other Indian brands featured in the list are Life Insurance Corporation of India (LIC), ranked 23rd followed by the State Bank of India (SBI) ranked 24th. Both held the same BSI of 88.3.

Reliance’s Previous Rankings:

i.In 2023, Jio became the second-strongest telecoms brand in the Brand Fiance’s Telecoms 150 2023 List.

ii.In Brand Finance’s India 100 2023 report, Jio was ranked 4th Strongest Indian Brands, and Mukesh Ambani’s Reliance Industries became the 5th Most Valuable Indian Brands.

Top 5 Global 500 – World’s Strongest Brands 2024 with the Ranking of Indian Brands:

Indian Firms in Global 500 2024 Report:

i.India ranks 9th in the brand value by the country with 1.47%, while USA tops the list with 52.35%.

ii.Indian firms in Global 500 – Most Valuable Brands 2024:

• Tata Group ranks 64th in Global 500 – most valuable brands 2024, with a value of USD 28.6 billion. It is at the top among Indian companies.
• Infosys (145), LIC (222), HDFC (228), Reliance Group (261), Airtel (292), HCLTech (300), SBI (330), Mahindra Group (345), Wipro Group (348), JIO (368), Larsen & Toubro (456), Indian Oil (474), Bajaj Group (493).

Top 5 Global 500 – Most Valuable Brands 2024:

Key Points:

i.17 Canadian brands, with a combined brand value of USD 155.6 billion, feature in the Brand Finance Global 500 2024 ranking.

• TD is Canada’s highest-ranked brand, with a brand value of USD 19.0 billion.

ii.The Artificial Intelligence (AI) sector booms with the America-based chipmaker NVIDIA, as its brand value surged 163% (USD44.5 billion), becoming the world’s fastest-growing brand.

iii.Europe’s most valuable brand, Deutsche Telekom, secures the world’s most valuable telecom brand position.

• Ranks 9th globally, Deutsche Telekom also leads as the most valuable European brand.

Brand Strength Index (BSI):

i.It is a framework that aims to consider the position of a potential licensee or acquirer of the brand. The Index is split into 3 sections namely:

• Brand Investment;
• Brand Equity; and
• Brand Performance.

ii.Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors.

About Brand Finance Global 500 Report:

i.It is an annual study and every year since 2007, Brand Finance evaluates and publishes reports on the world’s top 500 most valuable and strongest global brands.

ii.Brand Finance assesses 5,000 major brands globally and publishes over 100 reports, covering diverse sectors and countries.

Recent related News:

Reliance Jio Infocomm Limited (Jio), a subsidiary of Reliance Industries Limited (RIL) has collaborated with the Indian Institute of Technology (IIT) Bombay in Mumbai, Maharashtra, to develop the BharatGPT (Generative Pre-Trained Transformer) program.

About Brand Finance:
Chairman and CEO– David Haigh
Headquarters– London, United Kingdom (UK)
Established in– 1996