2024 India100 TheannualreportonthemostvaluableandstrongestIndianbrands June2024 Contents AboutBrandFinance3 Foreword4 DavidHaigh,Chairman&CEO,BrandFinance Foreword5 AjimonFrancis,ManagingDirector,BrandFinanceIndia RankingAnalysis8 SectorRankings&Analysis17 BrandValueRanking(USDm)30 BrandSpotlights32 Taj33 InterviewwithPuneetChhatwal,ManagingDirector&CEO, IndianHotelsCompanyLimited(IHCL) HexawareTechnologies36 InterviewwithNidhiAlexander,ChiefMarketingOfficer HMEL39 InterviewwithPrabhDas, ManagingDirector&ChiefExecutiveOfficer Zetwerk42 InterviewwithAmritAcharya,CEO&Co-founder Methodology45 OurServices51 ©2024Allrightsreserved.BrandFinancePlc. BrandFinanceIndia1002024brandirectory.com/india2 About BrandFinance Theworld'sleadingbrandvaluationconsultancy. Forbusinessenquiries,pleasecontact: RichardHaigh ManagingDirectorrd.haigh@brandfinance.com Formediaenquiries,pleasecontact: PennyErricker GlobalPressEnquiresp.erricker@brandfinance.com Forallotherenquiries: enquiries@brandfinance.com +442073899400 www.brandfinance.com BridgingthegapbetweenMarketingandFinance BrandFinancewassetupin1996withtheaimof'bridgingthegapbetweenmarketingandfinance'.Formorethan25years,wehavehelpedcompaniesandorganisationsofalltypestoconnecttheirbrandstothebottomline. Quantifyingthefinancial valueofbrands Weputthousandsoftheworld’sbiggestbrandstothetesteveryyear.Rankingbrandsacrossallsectorsandcountries,wepublishover100reportsannually. Uniquecombinationofexpertise Ourteamshaveexperienceacrossawiderangeofdisciplines frommarketingandmarketresearch,tobrandstrategyandvisualidentity,totaxandaccounting. Pridingourselves ontechnicalcredibility BrandFinance,acharteredaccountancyfirmregulatedbytheInstituteofCharteredAccountantsinEnglandandWales,isthefirstbrandvaluationconsultancytojointheInternationalValuationStandardsCouncil.Ourexpertscraftedstandards(ISO10668andISO20671)andourmethodology,certifiedbyAustrianStandards,isofficiallyapprovedbytheMarketingAccountabilityStandardsBoard. Foreword Brandvaluationhelpscompaniesunderstandthevalueoftheirbrandandhowitcontributestotheoverallvalueofthecompany.Thisimportantunderstanding caninformdecision-makingrelatedtomarketingandbrandingefforts,aswellasprovideabenchmarkforfutureperformance.Itcanalsobeusedtohelpattractinvestorsandsecurefinancing,asastrongbrandcanbeavaluableasset. DavidHaighChairman&CEO,BrandFinance Additionally,brandvaluationcanbeusefulintheeventofamergeroracquisition,asitcanhelpdeterminethevalueofthebrandbeingacquired.Overall,brandvaluationhelpsorganisationsunderstandtheworthoftheirbrandandhow itfitsintotheiroverallbusinessstrategy. Astrongbrandcanleadtoimprovedbusinessreturnsinseveralways. First,astrongbrandcanhelpacompanydifferentiateitselffromitscompetitorsandestablishauniqueidentityinthemarket,whichcanleadtoincreasedcustomerloyaltyandretention.This,inturn,canleadtohighersalesandrevenue.Astrongbrandcanalsohelpacompanycommandahigherpriceforitsproductsorservices,asconsumersarewillingtopaymoreforabrandtheyperceiveashigh-quality andtrustworthy. Inaddition,astrongbrandcanhelpacompanyattracttoptalent,asemployeesmaybemoreattractedtoworkforawell-knownandreputablebrand.Finally, astrongbrandcanprovideacompanywithacompetitiveadvantageandhelpitweathereconomicdownturnsorindustrydisruptions. Thisyear,BrandFinancehasinvestedmoreinresearchingandunderstandingcustomerperceptionofbrandsacrosstheworldthaneverbefore,withoriginalresearchtakingplaceindozensofjurisdictionsglobally.Thereportyouarereadingisbasedonthisextensiveoriginalresearch,withthefindingsrepresentingacatalystforfurtherconversations. Ifyouwanttohelpbuildastrongerbrand,orifyouwanttobetterunderstandthevalueofyourbrand,pleasecontacttheBrandFinanceteamandIanytime.Ilookforwardtotheconversationandhelpingtobuildamoreprofitablefutureforyourbrand. Foreword IndiaoftodayaspirestobeaVishwabandhu(friendoftheworld),apledgeittookattheG20summit2023.Emergingintoamajorvoicefortheglobalsouth,Indiaispresentingitselfasadifferentiatedleaderofthe“GlobalSouth”bysettingthenarrativeof“development,self-relianceandautonomy”.Indiaistodayavitalcog inglobalgeo-politics,bothwithitshardandsoftpower.Indiaisnowhardtoignore. BrandBharatisblooming. AjimonFrancisManagingDirector,BrandFinanceIndia Inthepastyear,Indiahasbecomeoneofthemostviabledestinationsformanufacturing,engineeringservices,knowledgehubforR&DandcontinuestobetheflagbearerofITservicesglobally. BrandsfromIndiahave,forthepastdecade,proudlycarriedthetag‘MadeinIndia’andsymbioticallyengagedintheirownbrandbuildingwhilstnurturingthenationbrandaswell.Thebigchangeinthepastyearhasbeentheemergenceof manufacturingandsupplychainsectorsinIndia.LeadingglobalbrandslikeApple,Kia,CISCOSystems,Motorola,Alstom,GETransportation,andmoreareusingIndiaasanalternativemanufacturingbasefortheirglobaloperations.IndianbrandslikeTata,Infosys,Taj,TCS,Mahindra,MRF,Hindalco,Airtel,Jio,AmulandmanyothersarefeaturingregularlyasleaderbrandsinBrandFinance’sglobalrankings. Indiaissheddingitsreluctantandreticentattitude,leveragingitsrichhe