IBEF: June 10, 2021
According to the recent report on Indian brands by Brand Finance, Reliance Jio is named as India’s strongest brand and the global strongest telecom brand, as per Brand Finance.
The report highlighted that Jio was founded in 2016 and has rapidly become the biggest mobile network operator in India and the globally third largest mobile network operator, with ~ 400 million subscribers.
Jio transformed the Indian market with its affordable plans, providing 4G to its users for free and has been popular as the ‘Jio effect’ among its consumers in India.
In 2021, Jio also made it among the top 10 most valuable brands in India.
Mr. Savio D'Souza, Valuation Director, Brand Finance, said, "Jio’s leadership is indicative from the outcome of the market research of the Brand Finance. Compared to other players in in India, the company has scored highest in all metrics -- word of mouth, value for money, consideration, conversion, reputation, recommendation, innovation, customer service, etc."
Mr. D'Souza also stated, Jio has demonstrated genuine affection among its consumers.
The five other strongest brands include Taj, Maruti Suzuki, HDFC Bank and Britannia.
Further, Tata Group has maintained the title of India's most treasured brand by a substantial lead with a brand value of US$ 21.3 billion. It operates in > 100 countries across six continents and employs > three-quarters of a million employees. The report stated, Tata Group is a strength to be regarded with on the global platform.
With 30 enterprises under the Tata Group, ranging from Tata Steel and Tata Motors to TCS and Tata Consumer Products, the organisation has managed to hold itself strong in the pandemic – registering an increase of 6% growth in brand value in 2021.
The report highlighted that the total value of India's top 100 brands grew by 2%, to US$ 164.9 billion in 2021 from US$ 162.1 billion in 2020.
The report added, “This growth in brand value over 2020 is a remarkable accomplishment given the global pandemic crisis following the implementation of national COVID-19 imposed lockdowns in March 2020, when business activity was made to a standstill, impacting consumption and production and consumption.”
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.