Brand Finance’s Telecoms 150 2026 report finds that price increases across prepaid and postpaid plans boosted the value of Indian telecom brands
MUMBAI, 18 March 2026 – The collective value of Indian telecom brands rose from USD15.5 billion in 2025 to USD16.5 billion this year or approximately 7% according to the Telecoms 150 2026 report by Brand Finance, the world's leading brand valuation consultancy. This increase in collective value can be attributed to an increase in prices for all prepaid and postpaid plans across all telecoms brands during the year.
Airtel (brand value up 6% to USD8.1 billion) ranks 17th globally, moving up two places from 2025. Airtel’s growth can be attributed to an increase in revenue, primarily driven by the expansion of the number of services offered, rollout of its 5G network, and a price increase across all prepaid and postpaid plans.
Jio Group (brand value up 14% to USD7.4 billion) ranks 23rd in brand value. Jio’s positive uptick is due to a rapid rollout of its streaming services, and a wide array of streaming presence in the country. Jio Group also ranks as the 28th strongest telecoms brands globally with a Brand Strength Index (BSI) score of 81.9/100, moving up 13 places compared to last year. This increase in BSI is due to Jio Group embracing a range of services, becoming a major content, marketing technology, broadcasting, telecom, and technology service provider.
VI (brand value up 7% to USD646 million) moves up three places to 101st globally. Its brand value growth can be attributed to a revival strategy, central government support, policy revisions and a gradual increase in average revenue per user allowing the brand to continue competing in this highly sensitive market.
Meanwhile, BSNL (brand value down 18% to USD282 million) is witnessing a decrease in revenue as it pivots back to revitalise its telecoms operations. The brand is expected to make steady progress with its deep penetration strategy into the hinterland of India.
Ajimon Francis, Managing Director India, Brand Finance, commented:
“Indian telecoms brands are rapidly transitioning into multi-product/service entities backed by technology, content and streaming services. Each brand is exploring ways to improve the ARPU as well as their revenue levers. The confluence of customer expectations for rock-bottom prices and the increased investment demands to roll out 5G and 6G is not helping the brands. Added pressure from opening up the Indian market to new players like Starlink is adding a new layer of pressure. In summary, the Telecoms sector is churning fast in India.”
Telecoms Industry Global Insights
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, 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.
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 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 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.
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.
