Mumbai, 30 May, 2023: Interbrand, the world’s leading brand consultancy, proudly presents the eagerly awaited list of India’s top 50 most valuable brands. The unveiling event took place in Mumbai, with Rajashree R, Chief Marketing Officer, TCS, joining Gonzalo Brujo, Global CEO, Interbrand, as keynote speaker.
Celebrating its 10th year, the Best Indian Brands report has become a definitive guide to the nation’s brand landscape since its inaugural publication in 2014. This year’s edition showcases remarkable growth, with a total list value of INR 8,310,057 million (US$ 100 billion), marking a significant 167% increase over the past decade. Notably, this is the first time the total value of the table has surpassed the US$ 100 billion mark.
The rankings for 2023 reveal the following brands as the frontrunners:
| Rank 2023 | Brand | Sector | Brand Value (INR Millions) | 10 year change |
| 1 | TCS | Technology | 1,095,766 | 153% |
| 2 | Reliance Industries | Diversified | 653,208 | 121% |
| 3 | Infosys | Technology | 533,238 | 197% |
| 4 | HDFC | Financial Services | 502,910 | 224% |
| 5 | Jio | Technology | 490,273 | NEW |
| 6 | Airtel | Telecommunications | 465,535 | 58% |
| 7 | LIC | Financial Services | 337,920 | 73% |
| 8 | Mahindra | Diversified | 311,364 | 155% |
| 9 | State Bank Of India | Financial Services | 300,552 | 65% |
| 10 | ICICI | Financial Services | 259,153 | 113% |
The top three brands alone account for a staggering 46% of the total value of the top ten brands. Additionally, the top five brands collectively contribute 40% to the overall value of the table. This year marks a historic moment, as three technology brands secure positions in the top five for the first time in the past decade. The top ten brands in the table have achieved remarkable scores across three of Interbrand’s Brand Strength Factors: Trust, Distinctiveness, and Empathy.
The total brand value of the top ten brands, amounting to INR 4,949,920 million, exceeds the combined value of the remaining 40 brands on the list, which amounts to INR 3,360,137 million.
Examining the fastest-growing sectors over the last ten years, FMCG demonstrates an impressive Compound Annual Growth Rate (CAGR) of 25%, followed by Home Building & Infrastructure at 17%, and Technology at 14%.
Highlighting the top ten fastest-growing brands over the past decade:
| Brands | Sector | %Change |
| JSW | Diversified | 323% |
| Asian Paints | Home Building & Infrastructure | 293% |
| Tanishq | Luxury | 285% |
| Kotak | Financial Services | 260% |
| HDFC | Financial Services | 224% |
| Adani Enterprises | Diversified | 210% |
| HCL | Technology | 210% |
| Infosys | Technology | 197% |
| Maruti Suzuki | Automotive | 184% |
| Axis Bank | Financial Services | 160% |
The technology sector has overtaken diversified industries as the leading contributor to the total table value over the last decade.
| Top Sector | 2014(Contribution to Total Table Brand Value) | 2023(Contribution to Total Table Brand Value) |
| Diversified | 34% | 21% |
| Technology | 20% | 31% |
| Financial Services | 19% | 22% |
The Home Building & Infrastructure sector has experienced remarkable growth, surging from INR 69 billion to INR 344 billion, closely followed by Technology, which expanded from INR 693 billion to INR 2.5 trillion in the past ten years.
While the Financial Services sector still boasts the highest number of brands with nine representatives in the table, the Home Building & Infrastructure sector has witnessed the most significant rise, with seven brands entering the list since 2014.
Said Ashish Mishra, CEO, Interbrand India & South Asia, “This year’s Best Indian Brands event highlights the remarkable concentration of brand value among the top three and top five brands, demonstrating their strong impact on the overall landscape. It is an extraordinary moment to witness the ascent of technology brands, securing prominent positions in the top five after a decade. The exceptional performance of the top ten brands, particularly in the Brand Strength Factors of Direction, Coherence, and Trust, underscores their strategic focus and ability to build lasting connections. With a total brand value surpassing the combined value of the remaining 40 brands, these leaders exemplify the power of effective brand management. The phenomenal growth of sectors such as FMCG, Home Building & Infrastructure, and Technology reflects their resilience and ability to adapt to evolving market dynamics. Notably, the Home Building & Infrastructure sector has witnessed a remarkable rise, welcoming seven new brands to the list since 2014. As we explore the ‘Brand New World,’ we are excited to celebrate the achievements and potential of these brands and their contribution to India’s economic landscape.”
Said Gonzalo Brujo, Global CEO, Interbrand, “This year’s list showcases the remarkable growth and evolution of the Indian brand landscape. The significant increase in total brand value, surpassing the US$ 100 billion mark, is a commendable feat and demonstrates the strength and potential of Indian brands on a global scale. We are proud to witness the continued success and innovation of these brands, shaping the future of business in India.”
Interbrand’s unveiling of the 2023 50 Most Valuable Indian Brands reinforces the enduring power of brands in driving economic growth and creating long-term value. With technology dominating the landscape, these brands exemplify the commitment to excellence and strategic vision that have propelled them to the forefront of India’s business landscape.
