HDFC Bank retains its No. 1 position in BrandZ India Top 50 for the fourth time

HDFC Bank has retained its number one position in the BrandZ Top 50 Most Valuable Indian Brands 2017 for the fourth consecutive year. The brand has managed to double its value since 2014 from $9.4 billion to $18.0 billion with a sustained focus on improving access to services. Airtel and State Bank of India also continue to retain their number two and number three positions, respectively.

According to the report, India’s most valuable brands have increased their brand value by 21 per cent to US $ 109.3 billion in the last year. This compares with a 2 per cent decline in 2016, and is well ahead of the 8 per cent value increase of the BrandZ Top 100 Most Valuable Global Brands 2017.

The list of Top 50 Most Valuable Indian Brands has seen seven new entrants this year and the most noteworthy of them is Jio. The telecom provider bagged the 11th place (only one short of making the top 10) only months after entering the market. The other names that have made it to the list this time around are retailer D-Mart (no. 24), appliance brand Whirlpool (no. 45), insurance brand Bajaj Allianz (no. 49), Canara Bank (no. 50) and entertainment brands Sun Direct (no. 27) and Dish TV (no. 47).

According to the report, the automobile category, which also includes tyres, lubricants and motor fuels, grew 23 per cent in value. Royal Enfield, Maruti Suzuki and TVS were among the Top 10 overall fastest risers. The financial services category increased its value by 26 per cent. The fastest rising banks were Punjab National Bank and Kotak Mahindra Bank.

Brands in India had to face many obstacles last year. The FMCG category, which includes alcohol, food and dairy, personal care and soft drinks, was significantly affected by these challenges but still managed to grow 6 per cent in total value. Noodle brand Maggi, despite having faced controversy, was the overall second-fastest riser. Aligning itself with the trend for nostalgia helped the brand bounce back after a difficult couple of years; its rapid regrowth demonstrating how a strong brand can help a company weather a crisis and recover faster, although it is still some way below its peak brand value of $1.1 billion in 2014.

Speaking about the Indian consumers and what they are looking for, David Roth, CEO EMEA and Asia, The Store WPP, said, “Indian consumers seek authenticity and value for money, and the meaning of those things is being constantly redefined. As consumers become wealthier, they look beyond price to factors like extra features, innovation and a personalised experience. As reflected in this year’s ranking, the most agile Indian brands have recognised the complexity in the market, and achieved just the right balance between aspirational and affordable.”

For the first time, this year’s BrandZ Top 50 Most Valuable Indian Brands 2017 study incorporated new research from Y&R’s BAV Group into what it takes to build powerful nation brands. According to the 2017 Best Countries report, India stands out for its history, cultural influence, distinction and reputation for entrepreneurship; especially among the world’s business decision-makers. Because there is a strong relationship between how people perceive a country and how they view the brands associated with it, India’s reputation has a significant impact on the global power of its brands.

One of the trends that the report saw is the resurgence in national pride. This manifested in a desire for products and brands that best reflect Indian heritage, sensibilities and tastes, which benefited local brands and put pressure on multinationals to follow suit.

“There are now ‘multiple Indias’. Consumers continue to love the brands they’ve loved for generations, while equally embracing the brands of the future. Brands must be completely in rhythm with the pulse of the market. Those that can accurately interpret Indian sensibilities, while ensuring smart pricing, are likely to be most successful. This is easier for local brands, but people will relate just as positively to a global brand if it uses insight to understand and meet their needs, and communicate in a way that builds trust,” said Vishikh Talwar, Managing Director, Kantar Millward Brown, South Asia.

The BrandZ™ Top 10 Most Valuable Indian Brands 2017

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