Indian IT services firms may have outpaced their US counterparts and emerged as the most valued brands globally according to Brand Finance Global 500, 2022, but Indian conglomerates’ ranking appears to be slipping.
Though the Tata Group continues to be the only Indian representative among the top 100 most valued brands globally, its ranking has slipped by one position to 78 this year, from 77 last year.
Meanwhile, Reliance Industries (RIL) slipped to the 236th spot, down from 229 last year. It’s subsidiary, Jio, too, slid in the ranking, falling from 409 in 2021 to 451 this year, the lowest ranked Indian firm in the top 500, according to the report. It’s competitor Airtel saw a rise in ranking from 323 last year to 269 this year.
Mahindra group’s ranking slipped 22 positions to 364 in 2022, from 342 in 2021. While L&T was stable at the 417th position, HDFC Bank saw its ranking slide from 295 last year to 319 in 2022.
The three state-run firms on the list all saw a rise in their respective ranking. Initial public offering bound Life Insurance Corporation of India LIC rose to the 179th spot in 2022 from 208 last year. The State Bank of India managed to climb to 279 from last year’s position of 334. Indian Oil, too, saw a minor improvement in its position to 448 in 2022 from 453 last year.
According to the report, Tata Group’s brand value rose an impressive 12 per cent over last year to $23.9 billion. In addition, its chairman, Natarajan Chandrasekaran, ranks as the top chief executive in India and stands at the 25th position globally in the Brand Guardianship Index 2022.
The role of a brand guardian is to build brand and business value. “Our ranking recognises those who are building business value in a sustainable manner, by balancing the needs of all stakeholders — employees, investors, and the wider society,” explained the report.
“The performance of Tata Group exceeded expectations in 2021, thanks to a number of new acquisitions and partnerships and as key group companies — from Tata Consultancy Services to Tata Steel — witnessed major growth. The market capitalisation of Tata Group’s 20 listed subsidiaries has exceeded that of 70 listed central public sector undertakings (CPSUs) in India,” said the report.
Additionally, the Tata Group will be sponsoring the Indian Premier League (IPL).
Every year, brand valuation consultancy Brand Finance puts 5,000 of the biggest brands to the test, and publishes nearly 100 reports, ranking brands across all sectors and countries. The world’s top 500 most valuable and strongest brands are included in the annual Brand Finance Global 500 ranking, now in its 16th year.