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Kantar BrandZ Top 75 Most Valuable Indian Brands Report 2023: TCS Retains Its Number One Position

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TCS retains its number one position as most valuable brandIn the Kantar BrandZ Top 75 Most Valuable Indian Brands Report 2023, conducted by Wire and Plastic Products (WPP) and Kantar, Tata Consultancy Services (TCS) retained its top position as India’s most valuable brand for the second consecutive year with a brand value of USD 43 billion.

  • Housing Development Finance Corporation(HDFC) bank and Infosys occupies  2nd and 3rd position with a brand value of  USD 33,612 and USD 24,170 respectively.
  • This 2023 ranking marks the 10th edition of India’s most valuable brands ranking by Kantar.

Top 10 most valued brand:

Brand RankBrand Name Brand Valuation
( in Million USD)
Brand Category
1TCS42,869Business Technology and Services Platform
2HDFC Bank33,612Financial services
3Infosys24,170Business Technology and Services Platform
4Airtel22,517Telecom Providers
5State Bank of India (SBI)14,483Financial Services
6ICICI Bank12,976Financial Services
7Asian Paints12,839Paints
8Jio11,773Telecom Providers
9Kotak Mahindra Bank    10,332Financial Services
10HCLTech9,361Business Technology and Services

Top 10 Most Valuable Indian Brands - KantarData & Analytics:

i.India’s top 75 brands have a combined brand value of USD 379 billion, a decline of 4% from 2022.

  • The decline due to the ongoing economic volatility across the world, especially in business technology and services platforms category.

ii.India’s Gross Domestric Product (GDP) has almost doubled with an 82% growth; The world’s GDP has grown at 30%

iii.Top 50 brands have increased almost five fold in value, from USD 69.6 billion in 2014 to USD 339.9 billion in 2023.

  • The most valuable global brands, which have grown by 2.4 times.

iv.Financial services brands make up the largest share of the ranking’s total value and grew by 6%, driven by the boom in digital banking, led by Axis Bank and ICICI Bank.

v.Telecom providers also performed well, with their total brand value increasing by 17%.

vi.The 75 companies behind India’s most valuable brands have consistently outperformed the key market indices – Sensex and the NIFTY50


The 2023 Indian brand ranking includes four newcomers and two re-entrants.

i.PhonePe(21st rank) has become India’s leading digital payment application.

ii.Other newcomers include fintech brand Cred, ShareChat(photo and video sharing app), and Star(entertainment platform).

Top 3 Risers:

S.NoBrand Name2023 Rank CategoryBrand Value
( US$M)
Year -on- Year
(in %)
2Mahindra Rise47Automotive2,00848
3Sunfeast54Food & Beverages1,83140

The automotive category produced the two fastest risers.

i.TVS gained 59% in value and leapt 24 places helped by a number of successful product launches and a 10-year partnership with BMW that gives it leverage in markets such as Europe, the US and Canada.

ii.Mahindra, which grew its value by 48%, due to the shift in preference from hatchbacks to SUVs, and the demand for electric vehicles.

iii.Additionally, with 40% Year-on-Year change Sunfeast (54th most valuable brand) is third fast riser


i.To be eligible for this ranking, a brand must be originated in India, or its parent company must be listed on an Indian stock exchange.

ii.Indian unicorn companies must have their most recent valuation publicly available.

Additional Info

  • The report forecasts India’s GDP growth for the year 2023-24 will be at 5.9%.
  • The report reveals that India’s GDP in 2022 was USD 3.29 trillion and GDP growth rate was at 6.8%; The per capita income was at USD 8,379.

Recent Related News:

The brand valuation firm Brand Finance released its INDIA 100 2023: The annual report on the most valuable and strongest Indian brands- June 2023 report in which the Tata Group has retained its 1st position as India’s most valuable brand at USD (United States Dollar) 26,381 Million in 2023.

About Kantar:
Chief Executive Officer (CEO) – Chris Jansen
Headquarters – London, United Kingdom(UK)