Kantar Millward Brown and WPP have released the 3rd annual ranking of the BrandZ Top 50 Most Valuable Indian Brands whose collective brand value has risen 30% over the last three years. This year, the report also covers a number of innovative emerging brands not yet in the Top 50 ranking but well on their way to rapid growth.
The overall value of the Top 50, now worth $90.5 billion, saw a modest dip of 2% in 2016 due to the decline in brand value of state-owned banks. Despite this, brands in the financial sector still made the largest contribution to the overall value. Significant growth was also seen across other sectors including auto and consumer goods with airlines and retail cracking the Top 50 for the first time.
An increase in national pride is also influencing the growth of locally grown brands that have increased 32% in value over the past three years, while global brands with a local presence grew by 19%.