The Goodbye Gathering has held its title of India’s most significant brand and is hustling ahead with twofold digit brand esteem development of 10.3 percent to $26.4 billion. In the Brand Finance Global 500 2023, an annual ranking of the world’s top 500 most valuable brands, this marks the first time an Indian brand has exceeded the $25 billion mark.
According to Brand Finance, a leading brand valuation consultancy, India’s top 100 most valuable brands collectively showed growth amid the post-pandemic landscape and ongoing geopolitical uncertainty, with their total value approaching $2 trillion since the last valuation on January 1, 2022. “The Tata Group has undergone a significant strategic transformation over the past two years, embracing digitalization and utilizing technology across its diverse portfolio.
“The group has long been a trailblazer in promoting community welfare and sustainability, setting an example even before it became a global buzzword.” According to our inaugural global Sustainability Perceptions Index, which was conducted earlier this year, the Tata Group ranked 49th globally in sustainability perceptions value, which is a remarkable achievement.
Savio D’Souza, Director of Brand Finance
Brand Finance evaluates the relative strength of brands based on marketing investment, familiarity, loyalty, staff satisfaction, and corporate reputation, in addition to measuring the overall brand value. Brand value is strongly influenced by brand strength, in addition to revenue projections. According to Brand Finance, luxury hotel giant Taj Group became India’s strongest brand for the second consecutive year with a brand value of $374 million.
In addition, the Mahindra group has increased its brand value by 15% to $7 billion, making it India’s seventh most valuable brand. On revenues of 1, 21,269 crore, the automaker achieved a record-breaking profit of 10,000 crore in the most recent fiscal year. Due to a resurgence in infrastructure and Greenfield investments in India over the past year, metals brands like Tata Steel, Hindalco, and Vedanta experienced robust growth. According to a Brand Finance report, the impetus toward an electric revolution in India and the emergence of pent-up demand following the pandemic led to double-digit brand value growth for Maruti Suzuki, Tata Motors, and Mahindra Auto.
With an increase in brand value of 83.2% to $273 million in 2023, Raymond became the most valuable clothing brand in India. The brand was able to climb 55 places to the 94th position in the India 100 ranking for 2023 thanks to this increase in brand value.
“For the past ten years, Indian brands have embraced the “Made in India” label with pride, actively contributing to the development of their own brands and the nation’s brand identity at the same time. Accordingly, impressive brands, for example, Goodbye, Infosys, SBI, Airtel, Dependence, Mahindra, Taj Inns, L&T, Bajaj Auto, Aditya Birla, Tech Mahindra, MRF all keep on punching great over their weight on the worldwide stage,” said Ajimon Francis, Overseeing Chief, Brand Money India. According to the report, the automaker’s brand value increased by 53.8% to $3.6 billion, making it the fastest-growing auto brand in India and one of the top 10 fastest-growing auto brands worldwide for 2023.
Among SUV manufacturers, the company has a revenue market share of 19.1%, and India is dominated by its tractor division, which is the largest in the world.
