Indian brand value growth is better than China and the world, says latest BrandZ report
HDFC Bank has retained its position as India's most valuable brand, with 21% growth to $21.7 bn, according to WPP and Kantar Millward Brown’s BrandZ most valuable Indian brands analysis.
HDFC Bank names as most valuable brand as insurance and automobile industries lead the growth chart in India / HDFC
The value of Indian brands grew 110% to $146.1 bn over a period of five years. This compares to a rise of 76% for the BrandZ top 50 Chinese brands and 60% for the BrandZ global Top 50 over the same period, solidifying India as the market with the fastest growth rate for brand value.
The analysis further revealed that the 2018 ranking has grown from 50 to 75 brands, thus reflecting India’s growing economy and a marketplace in which more local brands are emerging to present consumers with increased choice.
David Roth, CEO EMEA and Asia, The Store WPP, said: “A booming economy and an increasingly digital world are re-shaping India’s brand landscape and creating new opportunities. Brands that get it right, regardless of whether they are established players or newcomers are reaping the rewards. However, there is no room for complacency in this fast-paced environment where so many ambitious companies are ready to rise to the occasion."
Meanwhile, insurance company LIC became a new entrant, worth $19.8 bn, to occupy the second position as a result of its pension plan business, followed by Tata Consultancy Services at number three with $15 bn.
Automobile and insurance brands lead the growth chart, with four of the top 10 (brands with the greatest year-on-year value increase in relative terms) in the automobiles and insurance categories. Auto brands TVS and Maruti Suzuki rose 71% and 56% respectively, with this sector representative of the overall economic growth in India empowered by rural demand.
Meanwhile, new e-commerce brands like Jio, Paytm, Ola and Flipkart have been successful in building brand trust among Indians.
Vishikh Talwar, managing director at Kantar Millward Brown, South Asia said: “The premiumization trend is equally a reflection of the continuous progression of the Indian society over the last few decades. In this journey, consumers with an unprecedented array of options will choose the brand they instinctively trust. Trust is not the sole prerogative of heritage brands; young brands can be equally trustworthy if they have a clear purpose and deliver consumer experiences that reinforce this.”
Top 10 most valuable brands in India
1. HDFC Bank
2. LIC (Insurance)
3. Tata Consultancy Services (Technology)
4. Airtel (Telecom Providers)
5. State Bank of India (Banks)
6. Maruti Suzuki (Automobiles)
7. Kotak Mahindra Bank (Banks)
8. Asian Paints (Paints)
9. ICICI Bank (Banks)
10. Jio (Telecom Provider)
The ranking commissioned by WPP combines analysed financial data from Bloomberg and Kantar Worldpanel with the opinions of over 160,000 Indian consumers since 2007, gathered for over 3,438 brands in more than 77 categories.
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Kantar Millward Brown
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