Tata Group has topped the table in the Best Indian Brands 2017 for the fifth time. This is not the news. Asia’s richest man Mukesh Ambani-led Reliance Industries has tumped Airtel on the second spot. Even this is not the news. The news is: Seven public sector enterprises (PSUs) have made it to the list of top 40 Indian brands in 2017, and five of them are public sector banks — which have gained, or retained their brand name despite reeling under record bad loans.
State-owned Life Insurance Corporation (LIC) is the biggest brand among all seven PSUs and has occupied the fourth spot on the list. LIC grew at 9% in brand valuation at Rs 25,774 crore. The State Bank of India comes next at the 6th rank with 7% growth in brand valuation 24,775 crore. The two, which made for the top 10 brands in India, are followed by ONGC at 20th rank, Bank of Baroda at 22nd rank, Punjab National Bank at 31st rank, Canara Bank at 38th rank and Union Bank of India 39th rank.
Tata Group, which topped the list, has a brand value of Rs 73,944 crore, despite registering a marginal 0.4% decline this year. Reliance Industries brand is valued at Rs 38,212 crore, a growth of 9% this year, while Airtel’s brand value stood at Rs 36,927 crore, with a growth of 5%.
The total brand value of the top 10 brands, over the last 4 years has grown by 25%, while this year, the brand value grew by 4%. The list of the top 40 included new entrants like Royal Enfield and Ambuja Cements. The Top 40 Indian brands have a combined total value of Rs 4,75,570 crore, an increase of 5% from 2016.
The table was dominated by certain categories and more than half of the best Indian brands came from five sectors — automotive, diversified, financial services, telecom, and technology. Diversified businesses made up 40% of the total brand value of this year’s Best Indian Brands table (Rs 1,92,240 crore), while financial services formed 27% of the value (Rs 1,26,140 crore).
“The top growing Best Indian Brands 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 (posting a growth of 19% this year), has done an exemplary job with Reliance, Kotak, JSW, HDFC and Ashok Leyland not far behind,” Interbrand India Managing Director Ashish Mishra said. However, there are no Indian brands in Interbrands Best Global Brands league table.