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Outgrow to Grow: Insights from Interbrand Best Indian Brands 2017

November 1, 2017


Interbrand India unveils India’s Top 40 most valuable brands

  • Tata, Reliance, and Airtel are the Top 3 brands
  • Maruti, Reliance, HDFC, JSW, and Kotak have shown the most growth
  • Purpose, Technology, and Brand are the key growth drivers

Mumbai, India (November 1, 2017) – For five consecutive years, Tata Group has continued to hold the top position. This year has proven to be an interesting year in the world of brands and businesses; despite Airtel’s strong performance, Reliance jumped into #2 which brings to light the success driven by the launch of Jio, a wholly owned subsidiary of Reliance Industries that provides wireless 4G LTE service in the country.

Following Airtel is HDFC Bank at #4, Life Insurance Corporation of India (LIC), State Bank of India, Infosys, Mahindra, ICICI, and Godrej round out the Top 10. The best growth performances belong to Maruti, Reliance, HDFC, JSW, and Kotak, as these brands understand the relevance of Purpose Centricity, Technology, and Brand, which contributed to their growth.

More than half of the Best Indian Brands came from five sectors: Automotive (5), Diversified (10), Financial Services (12), Telecom (2), and Technology (2). Automotive is one of the top growing sectors, leading the change is brand Maruti Suzuki, which posted a 19% increase in brand value from 2016.

Breaking into Best Indian Brands for the first time at #17 is Royal Enfield, an Indian motorcycle manufacturing company, with a brand value of INR 90.8 Bn, riding on its successful year on year financial performance and earnest branding efforts which have been consistently executed across touch points. Another new entrant comes from the “basic materials” sector – Ambuja Cement at #40 with a brand value of INR 15.18 Bn. Given its strong financial performance, and despite the impact of demonetization and its recent merger with ACC, Ambuja is staged to drive growth.

“The Best Global Brands understand that brands are the platform for growth. A quick look at the top growing brands confirms how outgrowing the now and changing at the speed of life creates admirable value growth,” said Ashish Mishra, Managing Director, Interbrand India. “Encouragingly, the top growing Best Indian Brands also have begun to understand and demonstrate the levers that drive growth and value. Maruti Suzuki, our top growing brand for the second year in a row, has done an exemplary job with Reliance, Kotak, JSW, HDFC, and Ashok Leyland not far behind. Our analysis of the Best Global Brands reveals some simple truths. Truths that are useful for Indian Brands to consider while driving growth in our rapidly changing market.”

When asked about being the top Indian brand for five consecutive years, Mr. Harish Bhat, Brand Custodian of Tata Sons, said, “Tata is a brand that is synonymous with leadership and trust. The Tata brand has a truly global reach and a presence across diversified businesses. Over the past 149 years of its existence, the Tata Group has consistently kept the community at the center of everything it does, in line with the vision of its founder, Jamsetji Tata. Simultaneously, Tata has remained relevant to every generation, powered by its pioneering spirit. These values make Tata a unique and powerful brand that is well regarded and much loved by all its stakeholders.”

Mr. Jayant Acharya, Director, Commercial & Marketing, of JSW Steel, one of the top growing brands this year, said: “JSW is known for its ambitious growth story as well as for its commitment to the nation. We have been able to take on challenging goals and convert them into reality while ensuring inclusive growth in the communities we live in. Our initiatives in the sports and community streams have already established our impact beyond our immediate stakeholders. We are further strengthening our Brand to bring positive transformation and prosperity to every life we touch.”

“We are living in one of the most exciting periods of change—societal, technological, industrial—that impacts every aspect of commerce and life,” said Gonzalo Brujo, Chief Executive Officer of Interbrand EMEA, LatAm and India. “In this ever-shifting context, to grow, brands need to outgrow. Outgrow barriers, challenges, markets, competition, mindsets, technology and potential. Which is why businesses need brands more than ever. The Best Indian Brands understand this value in belief systems and purposes, and hence propel this change without losing the way.”

*The Top 100 global brands have a combined total value of USD $1,871,730m, an increase of 4.2% from 2016. For the complete Top 100 ranking and the report with comprehensive analysis of growth, sector and industry trends, visit

**The Top 40 Indian Brands have a combined total value of INR 4755.7 Bn, an increase of 5% from 2016. For the complete Top 40 ranking and the report with comprehensive analysis of growth, sector and industry trends, click here

Interbrand India’s fifth annual report analyzes how brands grow in a changing world, showing that using technology at scale to deliver intimate human experiences, will help drive economic growth value. This methodology was the first brand valuation method to become ISO certified.
The ranking is based on three key components that contribute to a brand’s cumulative value:
• The financial performance of the branded products and services
• The role the brand plays in influencing customer choice
• The strength the brand has to command a premium price or secure earnings for the company

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About Interbrand
Interbrand has been the world’s leading brand consultancy, for over 40 years - having pioneered iconic work and forged many of the brand building tools that are now commonplace.

We know that in an age of unprecedented abundance of choice and speed of innovation, customers’ expectations are moving faster than businesses. While incremental change is still essential, it’s no longer sufficient. It takes bold moves to leap ahead of customers and competitors. We call them Iconic Moves.

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