TCS beats HDFC Bank to become India's Most Valuable Brand: Kantar BrandZ report

Tata Consultancy Services (TCS) with a value of $ 45.5 billion has managed to bag the top position in the Kantar BrandZ Top 75 Most Valuable Indian Brands report. TCS beat HDFC Bank to become the top brand this year.

It must be noted that HDFC Bank has held the top brand position in the list from 2014. This year, however, it came second with a value of $32.7 billion. “TCS’s brand value has been accelerated by global demand for automation and digital transformation following the pandemic,” said the report. 

According to the report, India’s top 75 brands are worth a combined $393 billion, equivalent to 11% of India’s GDP.

The report further says that the top brands in the list indicate the rise of tech in India. Six B2B tech brands and 11 consumer tech brands contribute 35% to the total value of the ranking. It says that B2B brands (tech, payments) are on average almost three times as valuable as

B2C brands as many of them play on the global stage while B2C are more focused in the domestic market. 

“Six banking brands deliver 19% of the total value. Also notable for their performance are Insurance brands, which have performed well as the pandemic increased consumers’ focus on protection of life and health, and Telecom Providers, led by Airtel (No.4; $17.4 billion) and Jio (No.10; $10.7 billion), which took full advantage of growth opportunities as everything moved online, from education to work to parties,” the report says. 

Kantar BrandZ Top 10 Most Valuable Indian Brands 2022

Deepender Rana, Executive Managing Director- South Asia, Insights Division, Kantar, said, “India’s leading brands have grown at an exceptional rate, despite global economic headwinds, putting the disruption from COVID-19 behind them. Indeed, they have both driven and benefited from the transformation in consumer and business behaviour as a result of COVID-19, especially where it relates to the use of technology. The challenge now is to sustain momentum as inflation bites worldwide and consumers and businesses adjust to the new normal. Brand owners will need to work harder to identify and build on what makes them worth paying for and ensure ROI on their marketing expenditure to avoid a margin squeeze.”

Soumya Mohanty, Managing Director, Insights Division, Kantar, said, “Purposeful and

sustainable brands are rewarded. Indian consumers look further than the brand attributes that affect them personally – they want brands to improve people’s lives and have a positive impact on wider society. They vote with their wallets, choosing brands they see as ‘doing the right thing’. Indian brands should have a clear view of their purpose, connect strongly with it by embedding it in their culture, talk about it in creative and powerful ways, and deliver on it – without fail.”

According to the report, it is important for marketers to keep investing in building the brands. It also said brands should embed tech and digital into their brand strategies as well as focus on sustainability. 

“There are three broad messages that we have this year, which is build salience, stand true to your purpose and build responsible brands that connect to a more sustainable world and a more sustainable environment,” said Mohanty. 

Mohanty added that brands should focus on being relevant to the consumers and deliver their needs. “I should have an emotional connection with the brand or an emotional affinity or loss. When that happens, we have seen that there is a 16% growth in average valuation. However, when they increase their saliency and meaningfulness, the average valuation goes up to 31%.” 

She further explained that brands should find a purpose that is meaningful to the consumer. “We see brands taking up causes like saving trees in the Amazon. However, they are not relevant to your audience. What Indians mean by purpose is to extend brands to do more here. Indian consumers expect brands to tackle social and environmental issues much more than global consumers. That's why we find purpose and sustainability to add the strong drivers of equity in India.” 

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