Millward Brown and WPP launch BrandZ Top 50 Most Valuable Indian Brands rankings
HDFC Bank is India’s most valuable brand, with a value of $9.4bn, according to the first ever BrandZ™ Top 50 Most Valuable Indian Brands ranking announced today. Carried out by marketing and brand consultancy Millward Brown in conjunction with WPP, the valuation is the only one in India that takes into account consumers’ opinion of brands to calculate the contribution that product brands make to business success.
The combined brand value of the BrandZ Top 50 Most Valuable Indian Brands is almost $70bn. The diversity of brands in the ranking – enabled through the country’s openness and ‘right to play’ for businesses – indicates that India is a fertile market for building valuable brands, irrespective of age, origin, structure, category, ownership or even price range. The Top 50 come from 13 different categories. Seventeen are multi-national corporations (MNCs), 26 are private Indian brands and seven are state-owned brands.
HDFC Bank has a network of over 3,400 branches and 11,250 ATMs in more than 2,100 cities. It is popular with its 28 million customers for launching mobile apps designed to make banking easier, and running literacy, education and skills training programmes in rural areas. The No.2 brand is Airtel, India’s leading wireless telecommunications brand and the fourth largest mobile operator in the world with nearly 300 million customers, while India’s largest commercial bank, State Bank of India, is at No.3 in the ranking.
Services businesses (Banking, Telecoms and Insurance), which are the nerve centre of today’s Indian economy, are prominent in the ranking. Seven of the Top 10 brands, and 30% of the Top 50 brands, come from the service sector. Financial services stand out, with the 12 banks and insurers in the ranking holding the largest proportion (37%) of total Brand Value. Analysis shows these brands have built value by successfully achieving scale – both in geographical reach and the diversity of their offerings. Telecoms, Personal Care, and the Food and Dairy sectors also feature strongly in the Top 50. The data shows that these brands – along with the other FMCG brands in the ranking – excel at connecting with Indian consumers.