MUMBAI : HDFC Bank Ltd, the largest private sector bank in India, was India’s most valuable brand for the third successive year, and emerged on top of the BrandZ Top 50 Most Valuable Indian Brands ranking released by WPP Group and Kantar Millward Brown. HDFC Bank was also the only Indian brand in the BrandZ top 100 most valuable global brands list released in June.
The total brand value of the top 50 brands in India declined by 2%, primarily due to a decline in the brand value of state-owned banks. Still, the total value of India’s most valuable brands has increased 30% over the last three years, with the top 50 brands now worth $90.5 billion, according to the third edition of the report.
“The 2016 BrandZ study shows the extent of change India has witnessed and its continuing potential. India has relaxed ownership rules across key industries and is making doing business easier,” said David Roth, chief executive officer, EMEA and Asia, The Store, the global retail practice of the WPP Group, in a statement.
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