New research from Brand Finance highlights the increasing prominence of Indian CEOs in the realm of artificial intelligence
MUMBAI, 27 March 2025 – Nine Indian brand guardians from the banking, conglomerate, IT services, and telecommunications sectors have exhibited exceptional leadership, with many focusing on leveraging artificial intelligence (AI) according to the Brand Guardianship Index (BGI) 2025, a new report by Brand Finance, the world’s leading brand valuation consultancy.
The latest BGI score matrix puts more focus on public perceptions, evaluating CEOs based on their leadership, brand management, and long-term value creation, with an emphasis on ethical leadership and global responsibility. These leaders have been acknowledged for their skill in navigating a fast-evolving global market while maintaining strong ethical standards, thereby reinforcing India's influence in global corporate leadership.
As per latest research, the most critical driver of CEO reputation is ‘genuinely caring for employees’, reflecting heightened expectations for empathy in leadership amid economic uncertainty, mental health challenges, and rapid technological changes. Other key drivers include ‘positive change’, ‘trustworthy’, ‘understanding the needs of customers’, and ‘sustainability’.
Helming India’s list of top brand guardians is Sashi Jagdishan, CEO of HDFC Bank, who has advanced 13 places to secure the nineth position globally, boasting a BGI score of 85.5 out of 100. Leading the banking sector alongside other prominent CEOs, his performance among analysts and journalists, particularly in areas such as ‘understanding the needs of customers’, and 'positive change', alongside his achievements among informed audience especially in 'strategy & vision', 'trustworthy' and ‘AI-readiness’ cements his leadership.
Natarajan Chandrasekaran, CEO of Tata Group, secured the leading position among the conglomerate brand guardians, ranking 11th globally with a BGI score of 83.7 out of 100. His leadership excels in areas such as 'strategy and vision', ‘understanding the needs of customers’ genuinely caring for employees’, and 'trustworthy' across both informed public and analyst & journalists audiences. This remarkable achievement reflects his commitment to creating value for customers, employees, and stakeholders alike.
Reliance Group CEO Mukesh Ambani follows at 14th placement globally with a BGI score of 82.5 out of 100. This score is a result of his strong performance in key metrics such as ‘strategy and vision’, ‘long-term value focus’, ‘understanding the needs of customers’ and ‘positive change’ across all researched audiences. Under his leadership, Reliance Group has experienced a 17% growth in brand value to USD9.8 billion, reinforcing its position as a leader in the oil & gas industry.
Salil Parekh, CEO of Infosys holds the 20th place globally with a BGI score of 81.7 out of 100 and remains the top-ranked brand guardian in the IT services sector. This success is underpinned by his performance in areas such as ‘understanding the importance of brand and reputation’, ‘trustworthy’ and ‘positive change’ within the IT Services sector. His dedication to strengthening the brand’s presence, coupled with a focus on building trust and driving positive change, has been key to the ongoing success and growth of Infosys.
C Vijayakumar, CEO of HCLTech, marks his debut in the BGI 2025 with a BGI score of 79.3 out of 100, ranking 36th globally and holds the third position among CEOs of the IT Services sector. This achievement is supported by strong scores in areas such as ‘genuinely caring for employees’, ‘positive change’, and ‘sustainability’ within the IT Services sector, as well as exceling in “understanding the needs of customers”. His effective leadership, emphasis on employee well-being, commitment to sustainability, and customer-centric approach have played a crucial role in driving HCLTech's success and enhancing its brand presence.
Anish Shah, CEO of Mahindra group, ranks 60th globally, with a BGI score of 77.1 out of 100. He excels in areas such as 'strategy and vision', 'trustworthy', and 'positive change' amongst both informed public and analyst & journalists.
Another new entrant to the list, S N Subrahmanyan, CEO of Larsen & Toubro, ranks 83rd globally and 4th among conglomerate brand guardians, with a BGI score of 75.0 out of 100. His strong performance in ‘strategy and vision’, ‘genuinely caring for employees’, ‘positive change’, and ‘sustainability’ across informed public and analyst & journalists underscores his impactful leadership.
Ajimon Francis, Managing Director India, Brand Finance, commented:
“Indian CEOs are showcasing remarkable leadership, guiding their brands to international recognition and helping shape India’s economic future. By prioritising trust, sustainability, and long-term growth, they’ve not only taken their companies to global heights but also strengthened India’s standing as an evolving economic powerhouse. Embracing digital transformation, AI, and empowering their teams, these leaders have driven innovation, harnessed technology, and played a key role in both global business and India’s rise on the world stage.”
Other highlights of Indian brand guardians from the BGI research includes:
The BGI 2025 reveals that perceptions of sustainability remain integral to CEO reputation. There is a strong correlation between a company’s sustainability efforts and the public perception of its CEO, with nearly half of the variation in CEO reputation attributed to how committed to sustainability the CEO is perceived to be.
Important note: Research conducted for the BGI is as of 1st January 2025
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.
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.
