Reliance and Airtel were at No 2 and No 3 respectively.
The global brand consultancy firm Interbrand has released its 2017 Best Indian Brands Report which lists the 'Top 40 brands in India'. This is the fifth edition of the report which has been identifying the most valuable Indian brands since 2013. This year's ranking was unveiled at an exclusive event organised in Mumbai.
For five consecutive years, the Tata Group has continued to hold the top position. However, 2017 has been an interesting year in the world of brands and businesses; despite Airtel's (No 3) strong performance, Reliance jumped into the No 2 spot which brings to light the success driven by the launch of Jio, a wholly owned subsidiary of Reliance Industries that provides wireless 4G LTE services in the country.
Following Airtel is HDFC Bank at No 4. Life Insurance Corporation of India (LIC), State Bank of India, Infosys, Mahindra, ICICI, and Godrej round out the rest of the top 10. The best growth performances belonged to Maruti, Reliance, HDFC, JSW, and Kotak, highlighting the relevance of Purpose Centricity, Technology, and Brand in driving their growth.
More than half of the best Indian Brands came from five sectors: Automotive (5), Diversified (10), Financial Services (12), Telecom (2), and Technology (2). Automotive is one of the top growing sectors; leading the change is brand Maruti Suzuki, which posted a 19 percent increase in brand value versus 2016.
Breaking into the Best Indian Brands for the first time at No 17 is Royal Enfield, an Indian motorcycle manufacturing company, with brand value at INR 90.8 bn. It comes in 'riding on' its successful year-on-year financial performance and earnest branding efforts which have been consistently executed across touch points. The other new entrant comes from the "basic materials" sector - Ambuja Cement at No 40 with brand value at INR 15.18 bn, given its strong financial performance despite the impact of demonetisation and its recent merger with ACC. Ambuja is staged to drive growth.
Ashish Mishra, managing director, Interbrand India, says in a press release, "The Best Global Brands understand that brands are the platform for growth. A quick look at the top growing brands confirms how outgrowing the now and changing at the speed of life creates admirable value growth. Encouragingly, the top growing Best Indian Brands too, have begun to understand and demonstrate the levers that drive growth and value. Maruti Suzuki, our top growing brand for the second year in a row, has done an exemplary job with Reliance, Kotak, JSW, HDFC, and Ashok Leyland not far behind. Our analysis of the Best Global Brands reveals some simple truths. Truths that are useful for Indian Brands to consider while driving growth in our rapidly changing market."
On being the top Indian brand for five consecutive years, Harish Bhat, brand custodian, Tata Sons, says in a press release, "Tata is a brand that is synonymous with leadership and trust. The Tata brand has a truly global reach and a presence across diversified businesses. Over the past 149 years of its existence, the Tata Group has consistently kept the community at the centre of everything it does, in line with the vision of its founder, Jamsetji Tata. Simultaneously, Tata has remained relevant to every generation, powered by its pioneering spirit. These values make Tata a unique and powerful brand that is well regarded and much loved by all its stakeholders."
Gonzalo Brujo, chief executive officer, Interbrand EMEA, Latam and India, says in a press release, "We are living in one of the most exciting periods of change-societal, technological, industrial-that impacts every aspect of commerce and life. In this ever-shifting context to grow, brands need to outgrow. Outgrow barriers, challenges, markets, competition, mindsets, technology, and potential. Which is why businesses need brands more than ever. The Best Indian Brands understand this value in belief systems and purposes and hence, propel this change without losing the way."