Top 10 Brands in India
The strongest brands in India have recovered from the pandemic to grow their brand value by a staggering 35% CAGR since 2020, when COVID-19 struck the nation. The Top 10 Best Indian Brands listed in the Interbrand report-how did they get there? The answer can be found in some of their past actions, particularly those from the past few years. So here is a list of the Top 10 brands in India
1. Tata Group
As the most valuable brand in India, Tata Group has maintained an apparently unstoppable lead. Companies across the group spent the previous year making audacious, innovative strides, and brand value are up 11%. Tata Motors ran a contest to get people to vote for the name of the new car when the spread of the Zika virus threatened to cast an unfavourable shadow over the introduction of its car with the name Zica.
Tiago was declared the winner. With Lionel Messi as its brand ambassador, Tata Motors also scored something of a coup. Despite recent controversies, Messi has an incredibly strong connection to India's younger generation. The Zest sedan and Bolt hatchback were introduced by its passenger vehicle division. Guenter Butschek, a CEO and managing director this year at Tata Motors with prior experience at Airbus and Daimler, was one of the company's significant hires.
Tata Consultancy Services (TCS) surpassed the trillion rupee milestone with total revenue of '1,08,646 crore, up 14.8% from the prior fiscal year. In addition to selling tea, coffee, and water, Tata Global Beverages is now entering the dairy industry. With TataCliq, a phygital model that offers more convenience when making purchases or returns, the group is also forging ahead in the e-tailing sector.
Being the largest telecom provider in India, Airtel also serves as a focal point for problems that continue to afflict the industry, including call drops, inconsistent service, and a customer base that is rife with grievances. While the majority of businesses would attempt to sweep this under the rug, Airtel, which bills itself as an open network, has proven its leadership.
It provides subscribers with the opportunity to view the number of towers, informs them of new services, and reacts quickly to suggestions and objections. The brand value has increased by 8% since the previous year. On the strength of strong data consumption and stable currencies in the majority of the markets it is present in, its losses in Africa decreased by half to $78 million in the first quarter of this year.
After several months of testing, it began offering 4G LTE services throughout all of India in 2015. A partnership with Uber made it possible for Airtel Money to be used to pay for cab rides. Bangladesh's second-largest network was to be created through a merger with Malaysia's Axiata Group, which was announced in January of this year.
3. Reliance Industries
Reliance Industries expanded its product line this year to include mobile phone handsets, as if the company's portfolio wasn't already sufficiently diversified. The LYF brand has already surpassed many more well-known competitors who have dominated the market for much longer, according to research firm IDC. A preview of Reliance's ambitious Jio suite of services is included with the sub-$50 devices in LYF's lineup, which are 4G-capable and have these features.
Jio has received an investment of over '150,000 crore, making it "one of the largest transformational greenfield digital initiatives anywhere in the world," according to Mukesh Ambani, chairman of Reliance Industries. Ambani claims his service will cover 70% of the country from the day of launch, despite the fact that exact launch dates are still unknown.
To advance the group's goals in this field, Reliance Industries hired Sundar Raman, a seasoned sports marketing and management professional previously serving as the IPL's chief operating officer, as its Chief Executive Officer - Sports. Although it loses a rank, the company's brand value has increased by 3% over the past year.
4. HDFC Bank
With a brand value increase of 15% since 2015, HDFC is one of the companies that has grown the fastest. It is fueled in part by its focus on the requirements of developing segments. One such example is SmartUp, which was introduced earlier this year in partnership with Mumbai-based accelerator Zone Startups India (ZSI) as a specific solution for the banking needs of startups.
The goal of Smartup is to offer customised salary accounts, advisory and forex services, as well as increased transaction limits with no minimum balance for the first six months. HDFC Bank launched PayZapp, which aims to be a safe convenient payment gateway, because it doesn't like to be left behind in the app world. A film on the risks of borrowing money from unauthorised sources, "Dhanchayat," was created by HDFC for its rural audiences. Additionally, HDFC Bank has demonstrated that it is a marketer who is not afraid to experiment with novel, unproven ideas by engaging in a sonic branding exercise that resulted in the production of its own distinctive music.
5. Life Insurance Corporation of India (LIC)
One of India's most reputable insurance providers is also the country's biggest. Every year by a wide margin, LIC dominates the life insurance sector in Brand Equity's Most Trusted Brands survey. Even after years of emotionally charged, loud advertising from a number of private players, LIC still holds a nearly 70% share of the insurance market.
Its inclusion of the third gender as a choice in its proposal formed by a Supreme Court ruling from 2014 is one of its nods to a more progressive outlook on conducting business. For the purpose of selling its insurance policies, LIC has partnered with a number of different banks, most recently Axis Bank.
6. The State Bank of India (SBI)
The Reserve Bank of India, the nation's central bank, declared SBI to be one of the two banks in the nation that it deemed "too big to fail" for the second year in a row. Domestic systemically important banks, or D-SIBs, is the formal term. The size of the banks as a percentage of the annual gross domestic product was analyzed to determine the systemic importance score (GDP). SBI continues to have the largest ATM network in India, with over 21,000 machines. It has locations in 32 nations.
In a groundbreaking initiative, SBI recently unveiled the "Japan Desk," which offers banking and advisory services to Japanese corporations interested in making investments in the nation. SBI dispels the myth that government-run services are slow to adopt new technologies and are most at ease with the traditional methods of conducting business with its mobile wallet State Bank Buddy, which is available in 13 languages and is bundled with special offers from companies like Dominos and MakeMyTrip.
One of the top credit card providers in India, SBI Card, has partnered with seven of the country's largest online retailers, including Amazon India, BookMyShow, FabFurnish, LensKart, and Ola. Due to a partnership with PayPal, customers can now pay with debit cards through the payment gateway.
Infosys, the company that served as the face of the Indian IT services and consulting revolution, keeps up its position and sees an impressive 12% increase in brand value. Infosys continues to innovate even as it encounters difficulties as a result of a more cautious client attitude following Brexit.
Vishal Sikka, the new CEO, has changed the company's previous, more process-driven approach to one that places more emphasis on "design thinking." In order to drive automation and innovation, its artificial intelligence platform Mana, which was just released in April, "brings machine learning together with the deep knowledge of an organisation."
It aims to assist businesses in reimagining their system architectures and reducing maintenance expenses. A mentoring programme for apprentices has been established by the 193,000-person organisation to find and develop its top young talent. The #sitwithme campaign was also launched by Infosys on International Women's Day this year in an effort to promote more diverse and balanced leadership.
ICICI was deemed "too big to fail" by the Reserve Bank of India, much like the State Bank of India. In spite of a 25% decline in net profit for the most recent quarter, the company's retail banking division experienced an 18% growth. A full-service branch of ICICI opened in Sandton, Johannesburg, in January 2016 to serve South Africa.
Initiatives like the ICICI Appathon, a competition for developing mobile apps, keep it future-ready. The winning app, iMobile SmartKeys, enables users to transfer money without leaving the application they are using at the time, whether it be a game, chat, email, or browser.
Gift a Livelihood is a national referral programme that was started by the ICICI Foundation. It invites individuals to suggest deserving but underprivileged young people for training at the ICICI Foundation Skills academy, which since its founding in 2013, has trained and placed 36,000 young people across 22 centres.
Nobody can accuse Mahindra of easing up or taking its foot off the gas after the company introduced 14 new products last year. Mahindra, a global federation valued at US $17.8 billion, has seen a 14% increase in brand value. It was reported earlier this year that it was looking to acquire other storied motorcycles brands like BSA or Norton in addition to its 51% stake in Peugot's motorcycle business. Mahindra has introduced the GenZe electric scooter and e-bike for the US market, which is more environmentally conscious.
Mahindra Group has been given a contract by Airbus Group to produce aero components, specifically airframe parts for the AS565 MBe Panther rotorcraft. With the signing of the contract, Mahindra Aerostructures becomes the first Indian business to be a Tier I supplier to Airbus Helicopters.
According to a press release from the business, "Mahindra Aerostructures will gradually emerge as the global single source supplier to Airbus Helicopters for these parts," a partnership that truly supports Make-In-India. Mahindra's stated goal is to double revenue to $53,000 crore and rank as India's second-largest volume vehicle manufacturer in the automotive industry, with which it is most closely associated. Mahindra First Choice Wheels, it is also a player in the expanding organised used car market.
A business that wants to grow ten times larger than it was in 2010 is ranked No. 10 - down one spot from last year. In order to reach the $10 billion mark by 2020 across the incredibly diverse businesses that comprise the conglomerate, from consumer goods to real estate, Godrej has been working toward this vision.
Godrej has been active in acquisitions this year after realising that both organic and inorganic growth is necessary to meet its stated goals.
Strength of Nature, a company it acquired with a strong global presence and a focus on serving women with African heritage, is one of its acquisitions. According to chairman Adi Godrej, it is in line with his stated "3 by 3" strategy, which calls for "a presence in emerging markets in Asia, Africa, and Latin America through three core categories - hair care, home care, and personal care." Additionally, it bought the majority of shares in Kenya-based Canon Chemicals, a home and personal care company.
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