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Tata Group retains 1st Position as India’s Most Valuable Brand: INDIA 100 2023 Brand Finance Report

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Tata Group newThe 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.

  • It has shown a growth at 10.3% as compared to 2022.
  • This is the first time that an Indian brand has breached the brand value mark of USD 25 billion.

Note: Tata Group is the only Indian brand to feature in the top 100 of the Brand Finance Global 500 2023 (gaining 7 ranks in 2023), the annual ranking of the world’s top 500 most valuable brands released in January 2023.

Table showing Top 5 India’s Most Valuable Brands:

RankBrandValuation (in USD Million)
1Tata Group26,381
3LIC (Life Insurance Corporation of India)9,756
5Reliance Group7,357

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Table Showing Top 5 India’s Strongest Brands:

RankBrandOverall Rank
2AMUL (Anand Milk Union Limited)16
4Jio Group11
5Royal Enfield46


i.Tata is followed by the Infosys at USD13 billion and LIC at USD 9.8 billion at 2nd and 3rd position respectively. Both also retained their position as 2022.

  • Infosys’ brand value grew 2% versus 2022, while LIC’s brand value declined 12% in comparison to last year.

ii.The State Bank of India (SBI) retained its 6th position on the list in 2023 at USD 7.3 billion, while Mahindra Group stood at 7th rank, up 15% over 2022 at a brand value USD 7.1 billion.

  • It should be noted that the Mahindra Group is fastest growing brand amongst the top ten as it performed exceptionally well in FY23 with record profits crossing Rs 10,000 crore for the first time on revenues of Rs 1,21,269 crore.

iii.Wipro, HDFC Bank and HCL Tech completed the top 10 list at USD 6.9 billion, USD 6.8 billion and USD 6.5 billion in brand value for 2023.

iv.Luxury hotels giant Taj is India’s strongest brand for the second consecutive year with Brand Strength Index (BSI) score of 89.4 out of 100 and a corresponding elite AAA brand strength rating.

  • The Group is a top performer across several global industry rankings and assessments in Environmental, Social, and Governance (ESG).
  • Taj is followed by AMUL (Anand Milk Union Limited) at 2nd place with BSI score of 89 (AAA), and Britannia at 3rd with BSI score of 87.6.

v.Raymond is the fastest growing brand, up 83.4%.

vi.Persistent Systems jumps 25 places, the most by any Indian brand.

vii.Brands from Auto, Metals, Building Materials and Hospital sectors have shown a surge.

viii.India’s top 100 most valuable brands collectively exhibited growth, with their total value approaching USD 2 trillion since the last valuation on January 1, 2022.

Table Showing Most Valuable Indian Brands in 2023 in Different Categories:

Most Valuable Banking BrandSBI (State Bank of India)
Most Valuable IT Services BrandTCS (Tata Consultancy Services)
Most Valuable Food & Drink BrandAMUL
Most Valuable Automobile BrandMahindra
Most Valuable Telecoms BrandAirtel
Most Valuable Oil & Gas BrandReliance
Most Valuable Insurance BrandLIC
Most Valuable Mining & Metals BrandTata Steel
Most Valuable Building Materials BrandsUltratech Cement
Most Valuable Hotel BrandTaj
Most Valuable Tyre BrandMRF
Most Valuable Clothing BrandRaymond

SBI is the number one banking brand as per Brand Value in South Asia and it is valued at USD 7.3 billion

Some standout performances from Indian brands:

i.Raymond, at 90th position, as the most valuable clothing brand has posted an incredible 83.2% rise in brand value to USD 273 million.

ii.Mahindra & Mahindra (M&M) (automobiles) has seen a brand value increase of 59.3% to USD 3.6 billion, making it the fastest-growing automobile brand in India and among the top 10 fastest growing auto brands globally for 2023.

iii.Indigo emerges as the most valuable airline brand with a brand value of USD 832 million, ranked 45th in the India 100.

About Brand Finance India 100 2023 report: 

This report ranks India’s top 100 most valuable and strongest Indian brands and also features sectoral analytics and top sectoral brands. In addition to measuring overall brand value, it also evaluates the relative strength of brands, based on factors such as marketing investment, familiarity, loyalty, staff satisfaction, and corporate reputation.

Brand Finance calculates the values of brands in its rankings using the Royalty Relief approach, a brand valuation method compliant with the industry standards set in ISO 10668. 

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About Brand Finance:

Chairman– David Haigh
Headquarters– London, United Kingdom (UK)
Establishment– 1996