Tata Group has been retaining its position at the top when it comes to the most valuable brand in India. Recently, the brand value of Tata Group again surged by 9% when it sponsored the Indian Premier League (IPL). Infosys is second on the list of India’s most valuable brands 2024 however, the gap between these two conglomerates is huge. Infosys holds the second position with a brand value of $14.2 billion, which is almost half of Tata’s.
Tata Group, IPL Sponsorship and Brand Valuation
Tata Group has secured the title sponsorship rights for the next five years for the most popular game and league in the country, IPL. They have purchased the rights for ₹ 2500 crore, which is the highest in the history of the league and this helped the group to retain its position at the top of India’s most valuable brand.
Tata Group brand value to become the first ever to near the $30 billion mark in the Indian market. While sponsoring an IPO is one of the major reasons behind the surge in the brand value, other factors also played a crucial role such as Tata Group’s endeavors in the aeronautical rebranding, and expanding its reach amongst the retail domains with Zudio, and other brands. Earlier, Tata Group had limited presence in the retail market with Westside but now it has been coming up with different Tata consumer products to make its presence felt in the retail market too.
Most Valuable Brands in India 2024
While Tata has reserved its spot at the top of the list, Infosys is in second place with a brand value of $14.2 billion in 2024. However, you have to give it to Infosys as this IT brand boosted its brand value against all odds in the global platform. The global IT sector has been witnessing a slowdown and recession fears are haunting them but this IT giant made it to the top as per its brand value. The brand value of Infosys jumped 9% in this fiscal, which indicates Infosys’s strong presence, and solid fundamentals.
In the third position, there is HDFC Group with a brand value of $10.4 billion. The brand value increased for this group after its merger with HDFC Ltd.
State Bank of India becomes the second most valuable as per its brand value in the banking sector. However, the most important thing to notice here is its 33% increase in the brand value, which is now standing at $4.5 billion.
The boom in the banking sector can be attributed to improvement in regulations, and structural reforms, which helped the public sector banks to enhance their brand values.
Most Valuable Brands in the IT Sector
Amidst all the geopolitical turmoil and slowing down the IT sector, where long-term contracts are being given a pass at the moment, some of the Indian IT giants proved their worth. Again, a Tata Group company, TCS leads the chart of most valuable IT brands in the country with a brand valuation of $19.2 billion. HCL Tech’s brand value spiked 16% amidst these volatile and uncertainties, and currently, it is at $7.6 billion making it one of the most valuable IT brands. LTMindtree also witnessed an increase in its brand value by 4% and it is currently at $2 billion.
However, things are not the same for all the IT brands, as the global cues made Wipro’s brand value fall 8% to $5.8 billion while the brand value of Tech Mahindra declined 10% to $3.1 billion.
Most valuable brands in the Aviation sector
The aviation sector needs a special mention while talking about valuable brands as IndiGo’s brand value has gone up by 26% and it has become the first-ever airline to become a brand worth $1 billion. Air India, which is again a Tata Group undertaking, gained around 6% and its brand value increased to $386 million.
According to Brand Finance India, India has been becoming a differentiated leader in the ‘Global South’ with its exceptional journey of development, autonomy, and self-reliance. “Brand Bharat” is blooming, be it the manufacturing sector, engineering, or R&D, where the country is touching new highs and in IT services, the nation retains its position as the flagbearer. All these sums up the increasing brand value of Indian companies.
Source- https://www.moneycontrol.com/
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