HDFC Bank Ltd., India’s third largest lender by assets, remained the country’s most valuable brand for the fourth straight year.
The bank, with a brand value of $17.9 billion, tops the list of 50 companies compiled by global research agency Kantar Millward Brown and advertising and marketing firm WPP.
Reliance Jio Infocomm Ltd., the country’s newest telecom operator, debuted at No. 11. “If they (Reliance Jio) continues to do things right and relate to the Indian consumer and build a brand strongly, they could very well be in the top ten next year,” Vishik Talwar, managing director, South Asia, Kantar Millward Brown, told BloombergQuint.
The total value of the Brandz Top 50 Most Valuable Indian Brands rose 21 percent to $109.3 billion this year compared to a 2 percent decline in 2016. The top 10 brands contribute 39 percent of the total value, the report said.
Consumer goods brands’ value fell in 2017, largely due to demonetisation and Goods and Service Tax. That this is a temporary blip and the FMCG brands will bounce back as this year was just a small hurdle, said Talwar.
“Some of the FMCG brands here are very strong. They are very strong companies, great marketers and do understand the changing consumer in India,” said David Roth, CEO Asia at WPP.