Tata Consultancy Services (TCS) has retained its number one position in the 10th anniversary edition of Kantar BrandZ Top 75 Most Valuable Indian Brands Report for the second consecutive year, with a brand value of US$43 billion.

• TCS continues to successfully capitalise on global demand for digital transformation, despite a tough year for the business technology category in general. HDFC Bank, Infosys and Airtel also hold on to their top four positions, while State Bank of India rises one place to enter the Top 5.
• India’s Top 75 brands have a combined brand value of $379 billion, a decline of 4% from 2022 – a modest decrease given the ongoing economic volatility across most of the world.
• This is testament to Indian brands’ resilience, stability and consistency. The decline has been driven by brands in the Business Technology and Services Platforms category, which have a major presence in international markets, and therefore have been impacted by global pressures, recession threats and geopolitical instability. 
• The Automotive category produced the Top 75’s two fastest risers: TVS (No.51; $1.90bn) and Mahindra (No.47; $2.01bn) and achieved the second highest category growth at 19%. India’s automotive brands have quickly responded to changing consumer needs, notably the shift in preference from hatchbacks to SUVs, and the demand for electric vehicles.