Google is world's No. 1 brand; HDFC tops India list: BrandZ rankings

The report shows a 33% rise in Indian brand value, a rate that exceeds the growth of the Global Top 100 for every year since the launch of the Global BrandZ rankings a decade ago

BestMediaInfo Bureau | Delhi | June 17, 2016

HDFC Bank continues to be the No. 1 Indian brand, according to the latest BrandZ rankings for 2016. Airtel, State Bank of India and ICICI Bank continue to occupy the next three ranks in that order. Asian Paints has ranked at No 5, edging out Bajaj to No.6 position.

Globally, Google is the No. 1 brand, ahead of Apple. Microsoft is at No. 3, followed by AT&T and Facebook.

HDFC is the only brand to figure in the Global 1oo list, at No. 69.

BrandZ Top 100 Most Valuable Global Brands Ranking and Report is done by Millward Brown, a WPP company.

The BrandZ Top 50 Most Valuable Indian Brands 2015 increased 33 per cent in value, a rate that exceeds the growth of the Global Top 100 for every year since the rankings were launched a decade ago.

This remarkable growth rate illustrates the overall strength of the Indian market, with a GDP growth of 7.5 per cent, faster than any other major market worldwide. And it also points to the particular strength of the financial sector, banks and insurance brands, which increased 49 per cent in brand value year-on-year.

Growth alone sometimes wasn't enough: Seven brands dropped in rank, although they increased over 20 per cent in value, and four brands dropped out of the ranking completely.

In addition, disruption is on the near horizon. Some brands, particularly in e-commerce and mobile handsets, have not yet been included in the India Top 50 because they're not publicly traded, a BrandZ country ranking eligibility requirement. But that condition could change, imminently.

India is distinctive

The headlines tell only part of the story. India is not simply growing quickly; it's growing differently. Brand building in India requires gaining the deep insights needed to understand these differences.

Indians prefer Indian brands. But what is an Indian brand? In fact, 70 per cent of the brands in the BrandZ India Top 50 are of Indian origin. Only 18 per cent of the India Top 50 brands are SOEs, while 52 per cent are private, either owned by individual companies or by large Indian conglomerates, an indication of India's entrepreneurial energy.

The other 30 per cent of brands are owned by MNCs publicly traded in India. However, many of these brands have operated in India so long and effectively, they've established themselves as Indian brands in the minds of consumers, suggesting that the “Indianness” of a brand depends more on how it's perceived than on its provenance.

Indian consumers trust brands. While trust in brands is declining or settling at low levels in much of the world, trust in brands is growing in India for variety of reasons, including consumer appreciation for brands and the rapid expansion of brand choice. Indian consumer trust in brands seemed to hold even during a recent food safety crisis similar to scandals that eroded brand trust in China.

Brand success requires deep insight

While the opportunity in India is great, it can't be realized by simply implementing the strategies or tactics that proved successful in other country markets. India is complicated for many reasons that are distinctive to India. Indians are comfortable with dualities and tensions that don't exist to the same extent in other markets, and making decisions based on appearances alone can lead to costly mistakes. These dualities include:

Modernity and tradition: As Indians welcome more brands and the modern comforts and conveniences they offer, they try not to displace cherished traditions, but rather integrate them. Brands need a strategy for responding to this reality.

Individual and collective: As brands in other parts of the world try to infuse brands with purpose beyond simply making money, higher purpose remains a basic expectation in India. Building a brand also means helping to build India. The government mandates Corporate Social Responsibility spending.

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