Technology giant TCS and India's most valuable company Reliance Industries have topped the list of the country's most valuable brands, according to Interbrand, the renowned global brand consultancy.
Tata Consultancy Services (TCS) topped the 2023 50 Most Valuable Indian Brands list with a brand value of Rs 1.09 lakh crore.
Billionaire Mukesh Ambani's Reliance Industries Ltd is at No.2 spot with a brand value of Rs 65,320 crore. His group's telecom and digital unit Jio is also in the top 5 with a brand value of Rs 49,027 crore.
"Celebrating its 10th year, the Best Indian Brands report has become a definitive guide to the nation's brand landscape since its inaugural publication in 2014," Interbrand said.
This year's edition showcases remarkable growth, with a total list value of Rs 8.3 lakh crore (USD 100 billion), marking a significant 167 per cent increase over the past decade. This is the first time the total value of the table has surpassed the USD 100 billion mark.
IT company Infosys is at No.3 with a brand value of Rs 53,323 crore.
"The top three brands alone account for a staggering 46 per cent of the total value of the top ten brands," it said.
Additionally, the top five brands collectively contribute 40 per cent to the overall value.
HDFC is at No.4 and Jio at No.5.
Other brands in the top 10 include Airtel, Life Insurance Corporation (LIC), Mahindra, State Bank of India and ICICI.
"This year marks a historic moment, as three technology brands secure positions in the top five for the first time in the past decade," it said.
Examining the fastest-growing sectors over the last ten years, FMCG demonstrates an impressive compound annual growth rate (CAGR) of 25 per cent, followed by home building and infrastructure at 17 per cent, and technology at 14 per cent.
The technology sector has overtaken diversified industries as the leading contributor over the last decade.
The top ten brands achieved remarkable scores across three of Interbrand's Brand Strength Factors - Trust, Distinctiveness, and Empathy.
"The total brand value of the top ten brands, amounting to Rs 4.9 lakh crore, exceeds the combined value of the remaining 40 brands on the list, which amounts to Rs 3.3 lakh crore," Interband said.
While the financial services sector still boasts the highest number of brands with nine representatives in the list, the home building and infrastructure sector has witnessed the most significant rise, with seven brands entering the list since 2014.