Tata Group remains India’s most valuable brand, worth $28.6 billion, which is a 9% increase from last year. Following Tata, Infosys takes the second spot, while HDFC Group jumps to third place in Brand Value’s ‘India 100 2024 ranking. This report, created by Brand Value, evaluates over 250 Indian brands across different industries.
Structural reforms and regulatory improvements in the banking sector have enhanced the brand values of leading public sector banks.
- State Bank of India (SBI) retains its position as the second most valuable bank ranked in India, holding on to the “banker to every Indian” reputation and boasting a brand value of USD 6.9 billion.
- ICICI Bank made a significant leap with a 33% growth in brand value, reaching USD 4.5 billion.
- Among the fastest-growing Indian banking brands ranked are Indian Bank (brand value up 63% to USD 719 million), IndusInd Bank (brand value up 53% to USD 1.3 billion), Union Bank of India (brand value up 48% to USD 1.5 billion), and Punjab National Bank, which witnessed a 29% year-on-year growth (USD 1.4 billion).
Ranking of Banks as per Brand Value
- HDFC Group is ranked 3rd.
- SBI Group is ranked 6th.
- ICICI Bank is ranked 15th.
- Axis Bank is ranked 20th.
- Kotak Mahindra is ranked 23rd.
- Bank Of Baroda is ranked 25th.
- Punjab National Bank Group is ranked 28th.
- Union Bank of India is ranked 29th.
- Canara Bank is ranked 30th.
- IndusInd Bank is ranked 34th.
- Indian Bank is ranked 51st.
- Bank of India is ranked 52nd.
- Bandhan Bank is ranked 61st.
- IDBI Bank is ranked 68th.
- Federal Bank is ranked 69th.
- RBL Bank is ranked 85th.
- Indian Overseas Bank is ranked 93rd.
As you can see in the data above, the brand value of banking sector in India has increased to 18.79%. Banks in India are posting good amount of profit and the performance has also increased over the years. Now let’s have a look at the highlights of Tata Group which has been ranked as number 1.
- Tata Group retains No.1 position with an impressive 9% growth in brand value (USD28.6 billion), Infosys ranks second & HDFC Group catapults to 3rd spot as most valuable Indian brand, propelled by its monumental merger with HDFC Ltd.
- Taj continues to grow in stature as strongest Indian brand ranked with AAA+ brand strength rating.
- Banking brands post impressive double-digit growth in brand value with Indian Bank, IndusInd Bank & Union Bank leading the pack.
- Telecoms sector achieves 61% growth in brand value, followed by Banking (26%) & Mining, Iron & Steel sectors recording 16% average growth.
- Fastest growing Indian brands: Westside leads with 122% growth in brand value, ahead of Motherson (86%) & Sonata Software (83%).
- Tata Group leads with highest Sustainability Perceptions Value & HDFC Bank has highest positive gap value.