WPP and Kantar Millward Brown's BrandZ Most Valuable Indian Brands analysis reveals brand value was boosted by rising consumer confidence, the country's return to rapid economic growth and consumers becoming increasingly brand aware. The collective value of India's Top 50 brands grew 34%.
HDFC Bank has retained its No. 1 spot for the fifth consecutive year with a rise of 21% to a brand value of $21.7 billion. The bank has built a reputation for its sustainable livelihood initiative by introducing smaller loans worth as little as $175 that can be accessed via its bank branches.
The new 2018 ranking has grown from 50 to 75 brands to reflect India's growing economy and a marketplace in which more local brands are emerging to present consumers with choices.
This time, the ranking also incorporates brands from key and growing sectors such as technology (IT services), technology (online); durables and home appliances, tobacco, and entertainment (TV stations). Privately-owned brands, where financial information is publicly available, and unicorn brands based on their most recent valuations are also now included.
"A booming economy and an increasingly digital world are re-shaping India's brand landscape and creating new opportunities. Brands that get it right, regardless of whether they are established players or newcomers are reaping the rewards. However, there is no room for complacency in this fast-paced environment where so many ambitious companies are ready to rise to the occasion," says David Roth, CEO EMEA and Asia, The Store WPP.
There are 30 newcomers in the expanded ranking: These include Jio, Flipkart and Paytm, which have all seen growth in brand value, as well as Ola and travel agency MakeMyTrip.
Family dispersion is creating new brand opportunities: With young professionals moving to cities for work, there are openings for brands to offer new services. E-commerce brands are riding the boom in gifting, particularly during national festivals.
India's most valuable brands are outperforming the market: BrandZ's Top 50 Portfolio has beaten India's SENSEX stock market index. The stock portfolio of the India Top 50 increased 39.2% over five years, while the India's SENSEX rose only 21.4%.
Automobile and insurance brands lead the growth chart: Four of the Top 10 Risers (brands with the greatest year-on-year value increase in relative terms) are in the automobiles and insurance categories. Auto brands TVS and Maruti Suzuki rose 71% and 56% respectively, with this sector representative of the overall economic growth in India following several consecutive good harvests driving strong rural demand. Insurance brands ICICI Prudential (50%) and Bajaj Allianz (49%) led the way as the sector responds to increasing competition including a government-backed life insurance scheme.
Financial services (banking and insurance) is the most valuable category: There are eight bank brands in the ranking worth a total of $50.4 billion, followed by insurance, where the five brands included are worth a total of $25.9 billion. Together they make up 35% of the total ranking value.
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