The combined valuation of India’s top 75 valuable brands has gone up at an "impressive growth" rate of 19 per cent to $450.5 billion, according to the Kantar BrandZ report.
India's leading IT firm TCS remained the most valuable brand for the third straight year, followed by HDFC Bank, Airtel, Infosys and SBI, the report said.
"With a brand value of $49.7 billion, TCS has seen a 16 per cent rise versus last year, driven by investments in innovation, particularly in AI and digital transformation," it said.
Brands across business sectors have fuelled the growth, with 54 brands boosting their brand value over the past year, according to the Kantar BrandZ MostValuable Indian Brands Report.
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"This impressive growth outpaces most other BrandZ rankings globally and closely mirrors the 20 per cent increase seen in the Global Top 100," it said.
Financial services brands dominate the list as 17 brands contributed 28 per cent of the ranking overall brand value. HFDC Bank is second with a valuation of $38.3 billion while state-run State Bank of India is fifth with a valuation of $18 billion. ICICI Bank has been ranked sixth with a valuation of $15.6 billion and LIC at number 10 with a valuation of $11.5 billion.
Food delivery platform Zomato has seen the fastest growth, doubling its brand value to $3.5 billion and has been ranked 31st. This is led by "relentless innovations and expansion into quick commerce.
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Automotive sector is led by Maruti Suzuki, which is in 17th position, followed by Bajaj Auto which has been ranked at 20. Mahindra & Mahindra has a 78 per cent growth in brand valuation and has been ranked at 30th position.
"The success of models like XUV700, Scorpio N, and Thar, which continue to see high demand and long waiting periods, has solidified Mahindra's leadership in mid and premium SUVs," it said.
The 2024 ranking is based on opinions of 1.41 lakh respondents on 1,535 brands across 108 categories.
Kantar is the world’s leading marketing data and analytics business.
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