India’s largest IT company Tata Consultancy Services (TCS) has become the most valuable Indian brand in 2022, according to the Kantar BrandZ India rankings. The company rose two places up the ranking to attain the Number 1 position that was held by HDFC Bank since the Kantar BrandZ India ranking was launched in 2014.
Kantar, the world’s leading marketing data and analytics company, on Thursday released the Kantar BrandZ Top 75 Most Valuable Indian Brands 2022 report that values the TCS brand as worth $45,519 million, putting the company at the top. TCS’ brand value jumped 212 per cent in 2022 from 2020.
TCS leads a stellar performance by business solutions and technology providers, which now account for six brands in the Top 75 and provide 24 per cent of the ranking’s total value. These brands are playing a growing role in India’s economy, catering to domestic needs as well those of global customers, according to the Kantar report
Kantar ranks the best brands in the world. In Kantar BrandZ 2022 Most Valuable Global Brands ranking, TCS had emerged as the top Indian brand (at 46th rank against 58th in 2021). At the Asia Pacific level, TCS ranks at Number 2, just behind Samsung.
“Tech and IT companies really benefited from covid in terms of growth as clients are now looking at having more of their data and infrastructure to the cloud, are much more concerned about data securitization security than before, investing in AI, and also the increasing emergence of service as a software. And these Indian companies truly provide them at a global scale,” Deepender Rana, executive managing director (South Asia- insights division) of Kantar, said.
Infosys rose more than fivefold to $29.2 billion to be the third-most valuable brand in the country, followed by Airtel and Asian Paints at $17.4 billion and 15.3 billion, respectively. Technology companies dominated the ranking both in India as well as globally, including Google, Apple, Microsoft, Amazon and Tencent.
Rana said, “The challenge now is to sustain momentum as inflation bites worldwide and consumers and businesses adjust to the new normal. Brand owners will need to work harder to identify and build on what makes them worth paying for and ensure ROI on their marketing expenditure to avoid a margin squeeze.”
The report said that India’s technology brands are not just huge employers and contributors to the national economy, they are standard bearers for India itself, raising the global visibility of the country’s technological expertise, the spirit of innovation, and skills of its workforce.
The Kantar report also said India’s technology industry in FY2022 crossed the $200 billion revenue mark, citing NASSCOM data. All parts of the industry posted double-digit growth for the year, with exports up 17.2 per cent, generating $178 billion in revenue.
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