Despite Global Challenges, TCS Tops India's Most Valuable Brands List at $43 Billion

29 Sep 2023 , 12:23 PM

Tata Consultancy Services (TCS) maintains its position as India’s most valuable brand, valued at $43 billion, according to the Kantar BrandZ Top 75 most valuable Indian brands report. TCS successfully capitalizes on global demand for digital transformation, despite a challenging year for the business technology category in general, as stated by the data and consulting company.

Global uncertainty has led to a decline in the total value of the top 75 Indian brands, particularly impacting brands in the business technology and services platforms category with significant international presence. India’s top 75 brands collectively have a brand value of $379 billion, marking a 4% decline from the previous year, with TCS and Infosys recording drops of 6% and 17% in 2023, respectively.

Despite the decline in brand value, India remains resilient, showing only a 4% drop in brand value, compared to a 20% global drop, attributing it to strong domestic consumption and growth. The automotive category saw significant growth, with TVS and Mahindra experiencing a rise of 59% and 48% in brand value, respectively, due to their quick response to changing consumer preferences and the demand for electric vehicles.

The financial services and telecom sectors also contributed to the rise in total brand value, with a 6% growth in the former and a 17% growth in the latter, thanks to the boom in digital banking and the end of price wars in the telecom sector.

India’s GDP growth and brand value growth over the last decade are notable, showcasing the significance of Indian brands as value creators for the economy. The India Top 75 brands exhibit diversity, combining established names and dynamic young brands with a deep understanding of the Indian market and culture.

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