New Delhi, Tata Group has retained its position as India's most valuable brand, according to the latest report by Brand Finance.
The salt-to-software conglomerate is followed by IT majors Infosys and HDFC Group, which have been ranked second and third respectively in the brand valuation consultancy's report.
It said that the brand value of Tata Group has increased by 9 percent to US$ 28.6 billion.
"The brand value of the Tata Group highlights the first time that an Indian brand is close to a brand value of US$30 billion, reflecting the optimism prevalent in the Indian economy," it said in a statement.
Infosys also showed strong growth with a growth of 9 percent. Despite the slowdown in the global IT services sector, the report puts its brand value at US$14.2 billion.
After the merger with HDFC Limited, HDFC Group has reached the third position with a valuation of US $ 10.4 billion.
Banking brands have recorded impressive double-digit growth in brand value, with Indian Bank, IndusInd Bank and Union Bank leading the way.
The telecom sector achieved 61 per cent growth in brand value, followed by banking (26 per cent) and mining, iron and steel sectors which recorded an average growth of 16 per cent.
It said, "Telecom giants like Jio, Airtel and Vi have driven growth by adopting changing patterns of consumer device usage. Structural reforms and regulatory reforms in the banking sector have enhanced the brand values of major public sector banks. "
While hospitality brand Taj is emerging as the strongest Indian brand with AAA+
Brand strength rating, it said.
The salt-to-software conglomerate is followed by IT majors Infosys and HDFC Group, which have been ranked second and third respectively in the brand valuation consultancy's report.
It said that the brand value of Tata Group has increased by 9 percent to US$ 28.6 billion.
"The brand value of the Tata Group highlights the first time that an Indian brand is close to a brand value of US$30 billion, reflecting the optimism prevalent in the Indian economy," it said in a statement.
Infosys also showed strong growth with a growth of 9 percent. Despite the slowdown in the global IT services sector, the report puts its brand value at US$14.2 billion.
After the merger with HDFC Limited, HDFC Group has reached the third position with a valuation of US $ 10.4 billion.
Banking brands have recorded impressive double-digit growth in brand value, with Indian Bank, IndusInd Bank and Union Bank leading the way.
The telecom sector achieved 61 per cent growth in brand value, followed by banking (26 per cent) and mining, iron and steel sectors which recorded an average growth of 16 per cent.
It said, "Telecom giants like Jio, Airtel and Vi have driven growth by adopting changing patterns of consumer device usage. Structural reforms and regulatory reforms in the banking sector have enhanced the brand values of major public sector banks. "
While hospitality brand Taj is emerging as the strongest Indian brand with AAA+
Brand strength rating, it said.
