“Over the last 2 years, the Tata Group has undergone a significant strategic transformation, embracing digitalisation and harnessing the power of 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,” said Savio D’Souza, director at Brand Finance.
According to Brand Finance India 100 2023, Infosys retained the second spot in the rankings with a brand value of $13 billion. It was followed by the Life Insurance Corporation of India (LIC) with a value of $9.7 billion.
Among the banks, the State Bank of India (SBI) had the highest brand value of $7.33 billion. It was followed by HDFC Bank and ICICI Bank.
“Brands in the Metals sector, such as Tata Steel, Hindalco, and Vedanta have displayed remarkable growth off the back of a revival in infrastructure & greenfield investments in India over the past year,” the report said.
Moreover, Raymond emerged as the most valuable clothing brand in India with an 83.2 per cent rise in brand value to $273 million.
“This increase in brand value helped the brand move up 55 spots to rank 94th in the India 100 ranking for 2023,” the report said.