Jio reinforces its position as India's strongest brand in 2024, leading the charge ahead of LIC and SBI, according to Brand Finance's Global-500 report.
Jio, the telecom and digital arm of billionaire Mukesh Ambani's Reliance, continues to be the strongest Indian brand, ahead of likes of Life Insurance Corporation and State Bank of India, according to the latest report 'Global-500 2024' published by Brand Finance.
Jio had topped India's strong brands in Brand Finance's 2023 rankings as well.
In the 2024 ranking, Jio is placed at the 17th position among the world's strongest brands with a Brand Strength Index of 88.9 in the list led by WeChat, YouTube, Google, Deloitte, Coca Cola and Netflix.
LIC is placed at the 23rd place on the list, followed by SBI at 24th rank. It is ahead of brands like EY, and Instagram.
"Jio, a relatively new entrant in the telecommunications sector, emerges as the strongest brand with a notable 14 per cent increase in brand value to USD 6.1 billion, alongside a high brand strength index score of 89.0 and associated AAA brand rating," the report said.
"Jio's meteoric rise in the telecom industry is benefiting from substantial brand investment by the Reliance Industries conglomerate, delivering rapid customer base growth and revenue growth.
"The brand's high brand strength index and AAA rating are reflected in its rapid customer base growth, market innovation, and strong brand perception."
Tata Group, with a diverse portfolio with companies such as Tata Consultancy Services (TCS), Tata Steel, Tata Motors and Taj Hotels in its portfolio, "stands as the most valuable brand from South Asia," it said.