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Indian brands on a remarkable growth trajectory in 2025 

22 January 2025
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A new Brand Finance report reveals Indian brands see significant growth in 2025, with Tata leading the way

  • Infosys has the highest compound annual growth rate among IT Services brands over the past 5 years at 18%
  • Tata Group retains title as India’s most valuable brand, surpassing $30 billion for the first time
  • LIC has emerged as the fastest-growing Indian brand, achieving a remarkable 36% growth
  • Three banking brands raced their ways to the top 500 brands
  • Apple is once again the world’s most valuable brand, with Microsoft and Google claiming 2nd and 3rd

MUMBAI, 22 January 2025 – Tata Group (brand value up 10% to USD31.6 billion) has maintained its position as the leading Indian brand in the Global 500, according to a new report from Brand Finance, the world's leading brand valuation consultancy. It continues to hold its place in the top 100, ranked at 60, while preserving its prestigious AAA- brand strength rating.

Brand Finance's market research data highlights significant growth among several leading brands in the diversified sector, driven by Tata Group. Larsen & Toubro Group (L&T) (new entrant with brand value at USD7.4 billion) made a strong debut in the sector, alongside a prestigious AA brand strength rating. Bajaj Group (brand value up 23% to USD6 billion) has experienced impressive growth, while Mahindra Group has also increased its brand value by 9% to USD7.2 billion, commanding an AA+ brand strength rating. Wipro Group (brand value up 2% to USD6.7 billion), retains its AA+ brand strength rating. Reliance Group (brand value up 17% to USD9.8 billion) has achieved an AA- rating. These remarkable gains underscore the strength and resilience of the Indian conglomerates in the global market.

LIC (brand value up 36% to USD13.3 billion) has made an impressive leap in brand value while preserving its prestigious AAA brand strength rating. This increase is partly driven by LIC’s strong Brand Strength Index (BSI) score performance of 88 out of 100, the highest score among Indian brands ranked in the global ranking. The company’s rising familiarity and consumer choice metrics have further boosted its BSI score. LIC is strategically expanding its portfolio, particularly in the health insurance sector, where it is exploring the acquisition of a majority stake in a standalone health insurance company. This move is aimed at diversifying its offerings and tapping into the rapidly growing health insurance market, contributing to its improved brand value and BSI growth.

HDFC Group (with brand value at USD14.2 billion), SBI Group (with brand value at USD9.6 billion),and ICICI Group (with brand value at USD6.4 billion) have all made notable entries into the global ranking this year, marking a significant achievement for India's banking sector. They highlight the growing strength and influence of Indian banking brands on the global stage, driven by their strong financial performance and expanding market presence.

Several other Indian brands from various industries have made notable strides in the 2025 global ranking, reflecting their strong market presence and growing influence. In the oil & gas sector, Indian Oil (brand value up 9% to USD5.5 billion), reinforced its status as a key player in the global energy sector.

Airtel (brand value at USD7.7 billion) has maintained its position, showcasing resilience in the competitive telecommunications industry. Making its debut in the 2025 rankings, Jio Group (new entrant with brand value at USD6.5 billion) marks a significant milestone for the telecommunications giant as it expands its global footprint.

Infosys (brand value up 15% to USD16.3 billion) has climbed to the 132nd spot in the Global 500 ranking and is recognised as the world’s third most valuable IT Services brand for the fourth consecutive year. The brand has also achieved the fastest compound annual growth rate (CAGR) in brand value (18%) over the last five years among IT Services brands. Bolstered by the robust leadership of CEO Salil Parekh, Infosys has redoubled its relevance in the AI-first world and consistently delivered strong performances and innovation in the rapidly evolving digital services landscape

David Haigh, Chairman and CEO of Brand Finance, commented:

"Our analysis of what brands have grown the most since 2020 reveals that technology companies do not have a monopoly on sustained brand growth. This longer-term view also reinforces another important global trend: how Chinese brands like TikTok, Pinduoduo, and BYD lead the charge by creating value and challenging established brand leaders. As China continues to refine its brand-building strategies and focus on quality, we expect to see more C “Infosys has demonstrated remarkable growth over the past five years, achieving the fastest CAGR among IT services brands. The company has strategically prioritised innovation and emerging technologies, with a strong focus on generative AI. Infosys has also consistently leveraged high-profile sponsorships and strategic partnerships, intensifying its brand visibility and market presence in recent years. This commitment to technological innovation and strategic brand positioning has not only enhanced Infosys' brand value growth but has also strengthened its brand on the global stage, reflected in an enhanced brand strength score and an impressive AAA rating.

Ajimon Francis, Managing Director India, Brand Finance, commented:  

"Indian brands are making a powerful mark in the global rankings, with companies like Tata Group, Reliance, Infosys, and LIC leading the charge. Their impressive growth and strategic expansion reflect India's rising influence in diverse sectors, underscoring the nation's excellence and global competitiveness”.

Global Insights: Apple, Microsoft, and e& Lead the Charge  

The strong performance of ASEAN brands aligns with global trends highlighted in the Brand Finance Global 500 2025 ranking. Apple is once again the world’s most valuable brand, with its brand value rising 11% to USD574.5 billion. This growth keeps Apple ahead of its closest rival, Microsoft, whose brand value grew 35% to USD461 billion. Except for 2023, when Apple briefly trailed Amazon by a margin of just 1%, it has held the top spot as the world’s most valuable brand since 2021. Google, the world’s third most valuable brand, saw its brand value increase by 24% to USD413 billion. Ongoing investments in AI have enhanced Google’sreputation for innovation whilestrengthening its consumer appeal and trust.  

Meanwhile, e& recorded a staggering 701% growth in brand value, reaching USD15.3 billion, driven by a unified brand identity and global expansion. WeChat retained its title as the world’s strongest brand, achieving an unrivalled BSI score of 95.2 out of 100.  

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Media Contacts

Gayathri Saravana Kumar
Marketing Director - Asia Pacific
Brand Finance

About Brand Finance

Brand Finance is the world’s leading brand valuation consultancy. Bridging the gap between marketing and finance, Brand Finance evaluates the strength of brands and quantifies their financial value to help organisations make strategic decisions.

Headquartered in London, Brand Finance operates in over 25 countries. Every year, Brand Finance conducts more than 6,000 brand valuations, supported by original market research, and publishes over 100 reports which rank brands across all sectors and countries.

Brand Finance also operates the Global Brand Equity Monitor, conducting original market research annually on 6,000 brands, surveying more than 175,000 respondents across 41 countries and 31 industry sectors. By combining perceptual data from the Global Brand Equity Monitor with data from its valuation database — the largest brand value database in the world — Brand Finance equips ambitious brand leaders with the data, analytics, and the strategic guidance they need to enhance brand and business value.

In addition to calculating brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance, compliant with ISO 20671.

Brand Finance is a regulated accountancy firm and a committed leader in the standardisation of the brand valuation industry. Brand Finance was the first to be certified by independent auditors as compliant with both ISO 10668 and ISO 20671 and has received the official endorsement of the Marketing Accountability Standards Board (MASB) in the United States.

Definition of Brand

Brand is defined as a marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos, and designs, intended to identify goods, services, or entities, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits.

Brand Strength

Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors. Brand Finance evaluates brand strength in a process compliant with ISO 20671, looking at Marketing Investment, Stakeholder Equity, and the impact of those on Business Performance. The data used is derived from Brand Finance’s proprietary market research programme and from publicly available sources.

Each brand is assigned a Brand Strength Index (BSI) score out of 100, which feeds into the brand value calculation. Based on the score, each brand is assigned a corresponding Brand Rating up to AAA+ in a format similar to a credit rating.

Brand Valuation Approach

Brand Finance calculates the values of brands in its rankings using the Royalty Relief approach – a brand valuation method compliant with the industry standards set in ISO 10668. It involves estimating the likely future revenues that are attributable to a brand by calculating a royalty rate that would be charged for its use, to arrive at a ‘brand value’ understood as a net economic benefit that a brand owner would achieve by licensing the brand in the open market.

The steps in this process are as follows:

1 Calculate brand strength using a balanced scorecard of metrics assessing Marketing Investment, Stakeholder Equity, and Business Performance. Brand strength is expressed as a Brand Strength Index (BSI) score on a scale of 0 to 100.

2 Determine royalty range for each industry, reflecting the importance of brand to purchasing decisions. In luxury, the maximum percentage is high, while in extractive industry, where goods are often commoditised, it is lower. This is done by reviewing comparable licensing agreements sourced from Brand Finance’s extensive database.

3 Calculate royalty rate. The BSI score is applied to the royalty range to arrive at a royalty rate. For example, if the royalty range in a sector is 0-5% and a brand has a BSI score of 80 out of 100, then an appropriate royalty rate for the use of this brand in the given sector will be 4%.

4 Determine brand-specific revenues by estimating a proportion of parent company revenues attributable to a brand.

5 Determine forecast revenues using a function of historic revenues, equity analyst forecasts, and economic growth rates.

6 Apply the royalty rate to the forecast revenues to derive brand revenues.

7 Discount post-tax brand revenues to a net present value which equals the brand value.

Disclaimer

Brand Finance has produced this study with an independent and unbiased analysis. The values derived and opinions presented in this study are based on publicly available information and certain assumptions that Brand Finance used where such data was deficient or unclear. Brand Finance accepts no responsibility and will not be liable in the event that the publicly available information relied upon is subsequently found to be inaccurate. The opinions and financial analysis expressed in the study are not to be construed as providing investment or business advice. Brand Finance does not intend the study to be relied upon for any reason and excludes all liability to any body, government, or organisation.

The data presented in this study form part of Brand Finance's proprietary database, are provided for the benefit of the media, and are not to be used in part or in full for any commercial or technical purpose without written permission from Brand Finance.

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