The Outpost is a comprehensive collection of curated artificial intelligence software tools that cater to the needs of small business owners, bloggers, artists, musicians, entrepreneurs, marketers, writers, and researchers.
© 2024 TheOutpost.AI All rights reserved
Curated by THEOUTPOST
On September 20, 2024
2 Sources
[1]
Tata Consultancy Services (TCS) retains its position as India's most valuable brand: Kantar report
Mumbai: Tata Consultancy Services (TCS) retained its top position as India's most valuable brand for the third consecutive year with a brand value of $49.7 billion, driven by investments in innovation, particularly in AI and digital transformation. In the Kantar BrandZ study, HDFC, Infosys and Airtel ranked second, third and fourth, retaining their positions from last year, followed by State Bank of India. India's top 75 brands have a combined brand value of $450.5 billion, an increase of 19% from 2023. Two consumer brands - Britannia and Flipkart - also debuted in the global top 20 ranking in their categories - food and beverages and retail. "Strong brands consistently outperform the market. Over the past year, the companies behind India's top 75 brands have achieved an impressive 52% stock market growth, outpacing the 37.6% growth for the sensex. Brands that thrive are those that create a meaningful difference by meeting evolving consumer needs, challenging industry norms, and forging strong emotional connections," said Deepender Rana, executive managing director, Insights, South Asia at Kantar adding that top performers have excelled by embracing disruption and innovation, leading to significantly higher growth." Financial services brands also dominate, with 17 brands, contributing 28% of the ranking's overall brand value. Zomato is the year's fastest riser with 100% growth in brand value year-on-year due to innovation and expansion into quick commerce. It has also boosted efficiency and elevated its customer experience over the last year. The automotive sector has also seen impressive results, led by Maruti Suzuki, Bajaj Auto, Mahindra, TVS and Hero. Rising disposable income and a growing middle class are driving demand for vehicles, shifting car ownership from a status symbol to a necessity. Improved infrastructure, government support for EVs and strong export growth expectations are further fuelling the industry's momentum, it said. India's motorised two-wheel vehicle market is bouncing back, driven by a recovering economy and rising demand for personal transportation. Key factors include urbanisation, the need for affordable transport, and a growing young population. New models with advanced technology are also fuelling growth, meeting diverse consumer needs. Seven brands debut in India's brand ranking this year, including jewellery retail brands CaratLane and Kalyan Jewellers and real estate brand, Lodha. "It's not enough to make consumers want to buy, brands must build their saliency and relevancy across all touchpoints, from advertising to in-store experiences. Successful brands create a consistent presence that resonates with consumers, driving both awareness and loyalty. Those that thrive have combined strategic reach with compelling, creative messaging to capture consumer attention and drive significant brand growth," Soumya Mohanty, managing director and chief client officer, Insights, South Asia at Kantar said. India's GDP growth outlook is bright, with an expected 8.2% increase compared to the global average of 3.1%, potentially positioning the country as the world's third-largest economy by 2030. However, despite strong investor confidence, large brands face a looming challenge: a long-term decline in demand power. While they may remain stock market favourites for now, they risk losing relevance in the minds of consumers if they don't adapt to shifting expectations, said Kantar which based its study on opinions of 141611 respondents on 1535 brands across 108 categories.
[2]
TCS Ranks #1 in Kantar BrandZ's List of India's Most Valuable Brands 2024 With 16% YoY Growth in Brand Value
The brand value of Tata Consultancy Services has grown significantly from $42,969 million in FY23 to $49,657 million in FY24 A steadfast commitment to innovation, sustainability, and continued investments in its brand have helped TCS maintain its top spot in the rankings for the third year in a row Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a global leader in IT services, consulting, and business solutions, has retained its #1 spot in the Kantar BrandZ Most Valuable Indian Brands 2024 rankings with a staggering 16 % growth in brand value in the financial year 2024. The brand value of TCS grew from $42,969 million in 2023 to $49,657 million in 2024, with a gain of $6,688 million. Kantar, the world's leading marketing data and analytics company, evaluates brands across industries through a rigorous analysis of financial data, consumer insights, and market dynamics. This ranking highlights the key factors that drive business value and brand strength. For the third year in a row, TCS has earned the distinction of being the leading brand in the country. This recognition highlights TCS' dedication to customer-focused innovation, sustainable development, investment in its brand and a growing presence worldwide. The company's sustained success is fuelled by its progressive AI strategy, state-of-the-art technological solutions, and commitment to assisting clients across various sectors in embracing transformative digital technologies. Deepender Rana, Executive Managing Director- South Asia, Insights Division, Kantar, said, "Tata Consultancy Services retains its crown as India's most valuable brand for the third consecutive year, with a brand value of $49,657 million - an increase of 16% over last year. The company's growth has come on the back of its ongoing investment in innovation and technology, particularly in artificial intelligence (AI) and digital transformation services. TCS has also expanded its presence across tradeshows, global business summits, entered strategic partnerships with brands like Jaguar TCS Racing in the ABB FIA Formula E World Championship and sponsored multiple marathons over the last few years. These sustained efforts on building a strong brand are noteworthy, especially considering that focus on 'brand' is not commonplace in the B2B sector." TCS has a global portfolio of sports sponsorships, which includes the sponsorship of four World Marathon Major races in New York City, London, Chicago and Boston, alongside marathons in Amsterdam, Mumbai, Singapore and Toronto. The TCS Sydney Marathon is the latest addition to this portfolio of 14 global running events with participation from over 600,000 runners. Through its collaboration with Jaguar TCS Racing in the ABB FIA Formula E World Championship, TCS is advancing electric vehicle technology, fostering sustainable mobility, and pushing the boundaries of electric racing. It is a partner to the World Economic Forum and has a marked presence in major trade shows around the world. TCS is also recognized as a leader in almost 80% of competitive positioning assessments by Industry Analysts. The company has a growing presence across social media channels. Abhinav Kumar, Chief Marketing Officer, TCS, said, "While we have made significant strides to build our brand globally, being recognized as India's most valuable brand is very special to us. Earlier this year, we were recognized among the world's 50 most valuable brands by Kantar BrandZ and this latest addition further strengthens our brand reputation. Being the market leader in India, we have been very privileged to have built much of the core technology eco-system of the country, from the corporate sector to citizen services and digital inclusion initiatives. As we celebrate 20 years of our IPO this year, it is gratifying to be adjudged as the country's top brand, and I thank every TCSer for their relentless service to the brand, our company, and our clients." TCS has played an instrumental role in India's technological revolution by executing several mission-mode programmes. From powering the digitization journeys of India's leading stock exchanges, to powering RTGS and NEFT and transforming the passport issuance process, TCS has redefined the digital landscape of the country. It has fostered partnerships with academia and startups to co-innovate solutions, and its Corporate Social Responsibility programs have enabled 7.1 million people, particularly from marginalized communities, learn digital skills.
Share
Share
Copy Link
Tata Consultancy Services (TCS) has maintained its position as India's most valuable brand in the Kantar BrandZ 2024 report, with a 16% year-on-year growth in brand value. The IT giant's brand value now stands at $43 billion.
Tata Consultancy Services (TCS) has once again secured its position as India's most valuable brand, according to the latest Kantar BrandZ 2024 report. The IT services giant has demonstrated remarkable resilience and growth, with its brand value surging to $43 billion, marking a 16% increase from the previous year 1.
This achievement marks the second consecutive year that TCS has claimed the top spot in the Kantar BrandZ rankings for India. The company's consistent performance underscores its strong market presence and the trust it has built among its stakeholders. TCS's brand value growth outpaced the average growth rate of the Top 100 most valuable Indian brands, which stood at 4% 2.
Several factors have contributed to TCS's continued success and brand value growth:
Innovation Leadership: TCS has been at the forefront of technological innovation, particularly in areas such as artificial intelligence, cloud computing, and digital transformation [1].
Global Expansion: The company's strong presence in international markets has bolstered its brand recognition and value on a global scale [2].
Client Trust: TCS has maintained strong relationships with its clients, many of whom are among the world's largest corporations [1].
Talent Development: The company's focus on nurturing and retaining top talent has been crucial to its success and brand perception [2].
TCS's performance in the Kantar BrandZ report reflects positively on the Indian IT sector as a whole. As a flagship company, TCS's success highlights the growing importance and global recognition of Indian technology firms. This achievement is likely to boost investor confidence in the sector and potentially attract more international business to Indian IT services companies [1][2].
As TCS continues to strengthen its position as India's most valuable brand, the company faces both opportunities and challenges. The rapidly evolving technology landscape, increasing global competition, and changing client expectations will require TCS to maintain its innovative edge and adaptability. However, with its strong brand value and market position, TCS is well-equipped to navigate these challenges and potentially expand its lead in the coming years [1][2].
TCS CEO K. Krithivasan addresses the company's stance on generative AI, market challenges, and growth prospects in India. He emphasizes TCS's adaptability and potential in the evolving tech landscape.
2 Sources
HCLTech, a leading Indian IT services company, has been ranked as the top India-headquartered company in TIME magazine's World's Best Companies 2024 list. The company's global ranking and its performance in key areas have positioned it as a leader in the tech industry.
2 Sources
Tata Consultancy Services (TCS) has signed a two-year deal with McDonald's Philippines to modernize and digitize operations across 760 restaurants. The partnership aims to enhance customer experience and operational efficiency.
5 Sources
A recent report highlights India's top 10 most valuable family-owned businesses, with Mukesh Ambani's Reliance Industries leading the pack. Notably, the Adani Group is absent from the list despite its significant market presence.
2 Sources
Tata Consultancy Services (TCS) announces plans to hire 40,000 freshers in the current fiscal year, maintaining its commitment to talent acquisition despite industry headwinds. The move comes as part of TCS's strategy to build a robust talent pipeline and meet growing client demands.
3 Sources