Interbrand has unveiled its sectoral report, highlighting the achievements of the top Indian brands in 2023. The report highlights the efforts of brands across technology, FMCG, financial services, home building & infrastructure and automotive categories.
Ashish Mishra, CEO, Interbrand India and South Asia, said, “While the overall league table of most valuable Indian Brands launched some weeks back offers rich perspectives on how brands are driving value for businesses, the sectoral league tables offer a lot more contextual insight. There are some common themes and then some sector-specific ones. The common themes include Brands leveraging their trust and meaning systems to transcend their traditional categories to broader Arenas. It is now more about categories within brands, not brands within categories. The other common areas of focus across sectors are tech-led transformations for future, premiumisation, authenticity, experiential upgrades, internal culture-building, and environment & community consciousness.”
Key Highlights from the report:
Technology: With many large-scale employers having significant western market skews, the dominant themes include building strong employee and employer brands, tech for good, building global events, communities and sponsorships for visibility and relationships, DEI and ESG. TCS has invested heavily in community initiatives and achieved diversity in its workforce. Infosys has focused on energy and water efficiencies and promotes gender diversity. Jio has maintained market leadership and aims to provide digital connectivity to the emerging Digital India. Wipro is committed to achieving net-zero emissions and has strengthened its partnerships. HCL emphasises diversity and sustainability, while L&T Mindtree has formed strategic alliances and implemented responsible waste management. Mphasis is investing in emerging technologies and supporting social causes. Naukri has launched innovative solutions for enterprise customers and actively seeks innovative start-ups. These companies are dedicated to making a positive impact in their respective fields.
Automotive: In the automotive sector, several companies are making significant strides into the future of mobility. Maruti Suzuki's commitment to customer satisfaction is evident through its extensive distribution network, maintenance options, and eco-friendly products. Mahindra leads the Electric 3-Wheeler market and is on a path to becoming the top SUV player with its SUV umbrella branding while focusing on sustainability. Bajaj Auto, the largest motorcycle exporter and a pioneer in EVs, is expanding its reach with the Chetak EV and continues to lead the premiumisation through strategic partnerships. Tata Motors stands as the top SUV manufacturer and a much-improved passenger vehicles player with a strong commitment to electric mobility and sustainability. Hero MotoCorp, a sustainability leader, is driving innovation and diversity in the industry and has joined in the EV bandwagon with its ambitious future of mobility brand Vida. Premium segment leader, Royal Enfield explores new avenues through motorsports and community engagement. High-performing TVS Motor's stylish offerings, strategic partnerships and social impact initiatives are making waves. Ashok Leyland's sustainability efforts, including afforestation and safety measures, are noteworthy. Its EV brand Switch continues to lead the CV electrification. Apollo Tyres, rated among India's 50 most Sustainable Companies, expands diversity in its workforce and aims to build a community of SUV owners under the #BadRoadBuddies initiative.
Financial Services: HDFC, LIC, SBI, ICICI, Axis, Kotak, Bank of Baroda, IndusInd, and Union Bank are leading banks in India that prioritise customer experience and invest in innovative digital solutions. With the new competition coming from tech brands, the large financial services brands are also seen to be building their digital and customer-centric entities and upfronting the same ahead of their conventional forms. SBI Yono, BoB World, Kotak 811 and Indusind’s Indie are the new avatars becoming the primary windows to the future. They leverage technology to provide seamless banking services, offer personalised solutions, and enhance operational efficiency. These banks also actively engage in corporate social responsibility initiatives, focusing on community development, education, and environmental sustainability. Through their commitment to technological advancements and social welfare, they play a significant role in shaping India's banking landscape.
FMCG: The brands featuring in the FMCG sector have clearly leveraged the brand equities to add newer and relevant categories. Authenticity and Lifestyle have been the key pivots to drive premiumisation in line with growing customer expectations. They have prioritised innovation, sustainability, and community welfare. Godrej Consumer Products (GCPL) is a major player in household insecticides, air care, and hair care in India, Indonesia, and Africa. It leads the household insecticide market in India and is second in soaps. Amul focuses on the broader and value-added opportunities in dairy and foods, and is conscious of communities, renewable energy usage, rainwater harvesting, and carbon neutrality. Dabur innovates to popularise modern, science based solutions of Ayurveda and nature, drives rural market penetration, encourages gender diversity, and health awareness. Britannia focuses on its transformation into a total foods company and is extending presence and partnerships in areas beyond biscuits while championing water stewardship, safety, and reducing environmental impact. Patanjali adopts digital transformation, promotes farming community development, and ensures palm plantation sustainability. These companies strive to make a positive impact while delivering high-quality products and services to consumers.
Home building & Infrastructure: In the home building sector, Larsen & Toubro is reinventing around technology and services as the future high margin businesses. It is working towards Lakshya 2026 and is enhancing energy efficiency, emphasising sensor-based lighting, LED fixtures, and renewable energy. They also focus on rural empowerment and customer retention. Asian Paints leads the way when it comes to evolving to a broader Arena of Beautiful Homes from Paints Products offering custom design services, excel in waterproofing solutions, develops new eco-friendly products, and is committed to sustainability, water neutrality, and community livelihood. JSW achieved a remarkable 5 MTPA expansion at Dolvi, the largest ever in the Indian steel industry, featuring India's biggest blast furnace and steel melt shop. Their expansions prioritise renewable power usage, digitalisation for operational efficiency, and cutting-edge technologies to reduce CO2 emissions. JSW set a global milestone by issuing a US dollar-denominated Sustainability Linked Bond of $500 million, linked to a 42% CO2 reduction target by 2030, aligned with India's NDC. UltraTech, reinforces leadership and technology while attempting to deepen emotional engagement with the category. It prioritises digitalisation for enhanced efficiency, customer-centric innovations, and climate goals, making them India's largest cement manufacturer. Havells, another emerging Arena Brand uses customer-centric innovations to drive involvement and preference, recognises employees with the Employee Ownership Plan and invests in sustainability through solar power and employee training. Nerolac attempts a differentiated offering through technology and innovations, fosters a people centric work culture and prioritises sustainability, ranking highly in the paint industry's ESG category. They diversify into new segments and collaborate with customers for customised solutions. Pidilite, known for Fevicol is gradually evolving through innovations, solutions and creativity. It focuses on CSR initiatives and has high brand recall. Their farmer clubs and COVID-19 support demonstrate their commitment to society. They give a voice to employees through 'Aapki Awaaz Karegi Vikas' and support senior citizens. Polycab pivoting on its strong culture and relationships, values its employees, customers, and is again supercharging innovation to broaden into wider Arenas, launching a range of fans, lights, and accessible Home Automation. They invest in digital technologies and prioritise customer feedback and needs.