IT services and banking companies have retained top positions in the Kantar Brandz, 2022 Most Valuable Global Brands report. This year the number of Indian brands in the Global Top 100 rose to four: Tata Consultancy Services (TCS), HDFC Bank, Infosys, and Life Insurance Corporation (LIC).
That’s more than the amount that Japan, Italy, or the UK placed – combined, said the report. TCS jumped 12 positions to 46th position from 58th in 2021. Its brand value was up 61 per cent.
Formerly a challenger brand, TCS is now valued at $199 billion, almost equal to its peer Accenture. Success fuels dreams, which lead to more success. Today, India ranks number two on funded unicorns and number one in soon-to-be unicorns.
HDFC Bank’s rank was up five positions and its brand value increased 35 per cent. However, life insurance player LIC saw its rank slip 19 positions to 92, and its brand value was down by 4 per cent compared to 2021.
Infosys made its debut to the list at 64th position at a brand value of $33,551 billion, up 33 per cent.
As China’s long run of spectacular growth appears to be levelling off for now, and India has emerged as a major source of opportunity, not least for Chinese brands themselves, some of which have begun to open factories in Indian cities, said the report.