Top 75 valuable Indian brands witnessed a 4% decline in value to USD 379 bn this year: Kantar
The decline reflects the strain that businesses and consumers have been under in recent times due to supply chain challenges, rising interest rates, and market uncertainty, said Kantar BrandZ Top 75 Most Valuable Indian Brands Report.
Top 75 valuable Indian brands witnessed a 4 per cent decline in combined value at USD 379 billion this year as compared to 2022, according to a brand report by marketing data and analytics firm Kantar. The decline reflects the strain that businesses and consumers have been under in recent times due to supply chain challenges, rising interest rates, and market uncertainty, said Kantar BrandZ Top 75 Most Valuable Indian Brands Report. ''The Kantar BrandZ Top 75 Most Valuable Indian Brands this year has a combined value of USD 379 billion. This is 4 per cent lower than the value of the Top 75 a year earlier and reflects the strain that businesses and consumers have been under in recent times," it said. However, it also added by comparison, the top 100 Most Valuable Global Brands declined in value by 20 per cent between 2022 and 2023.
''In this context, and given that so many of India's most valuable brands serve a global market, a dip is to be expected,'' the report said adding it to be a ''modest decrease'' given the ongoing economic volatility across most of the world. In terms of economic outlook, it goes to show how resilient Indian brands are and how resilient the Indian economy is, said Soumya Mohanty, Managing Director & Chief Client Officer, South Asia, Insights Division, Kantar. ''In fact, if we remove some of the B2B or tech brands which are dependent on exports for their revenue, actually then it makes the portfolio further stable and we can even say that it has grown, at least marginally,'' he said. In fact, many sectors have actually grown, automotive, telecom, Financial Services, FMCG is really stable, Mohanty added. ''It augers really well for the economy even in a year with so much global headwinds, India has been relatively insulated. Also, what it tells us is that we have a lot of headroom to grow. If you compare it to 2019, we are still at a much higher level, so effectively after COVID bounce book, top brands have maintained their value,'' he said. In the Kantar BrandZ Top 10 Most Valuable Indian Brands 2023, Tata Consultancy Services retained its slot as India's most valuable brand with a brand value of USD 43 billion It is followed by HDFC Bank, Infosys, Airtel, State Bank of India, ICICI Bank, Asian Paints, Jio, Kotak Mahindra Bank and HCL Tech. This year, the automotive category produced two fastest risers TVS and Mahindra, ranked at 51 and 47 respectively with a brand value of USD 1.90 billion and USD 2.01 billion. The ranking's 16 Financial Services brands contribute the biggest chunk of its total value. Kantar BrandZ ranks the most valuable brands across the globe. Kantar BrandZ draws on millions of consumer interviews to understand the true value of a brand, diagnose its strengths and weaknesses, and provide actionable insights to drive future growth.
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