By BestMediaInfo Bureau

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.

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.

Read more: https://bestmediainfo.com/2022/09/tcs-beats-hdfc-bank-to-become-india-s-most-valuable-brand-kantar-brandz-report