India’s top IT service provider Tata Consultancy Services (TCS) is the most valuable Indian brand in 2022, according to the Kantar BrandZ India rankings. Kantar, the world’s leading marketing data and analytics company, on Wednesday released the Kantar BrandZ Top 75 Most Valuable Indian Brands 2022 report that valued the TCS brand as worth $45,519 million, putting the software giant at the top.
TCS’ brand value rose 212% in 2022 from 2020. The IT behemoth rose two places up the ranking to attain the number one position that was held by HDFC Bank since the Kantar BrandZ India ranking was launched in 2014. HDFC Bank has now been pushed to the second position.
Kantar ranks the best brands in the world. In Kantar BrandZ 2022 Most Valuable Global Brands ranking, TCS emerged as the top Indian brand (at 46 vs 58 in 2021). At the Asia Pacific level, TCS ranks second, behind Samsung.
“TCS leads a stellar performance by Business Solutions and Technology Providers, which now account for six brands in the Top 75 and provide 24% of the ranking’s total value. These brands are playing a growing role in India’s economy, catering to domestic needs as well those of global customers,” the report said.
The report said that today, India’s technology brands are not just huge employers and contributors to the national economy, they are standard bearers for India itself, raising the global visibility of the country’s technological expertise, the spirit of innovation, and skills of its workforce.
Citing NASSCOM data, it said India’s technology industry in FY2022 crossed the $200 billion revenue mark. All parts of the industry posted double-digit growth for the year, with exports up 17.2%, generating $178 billion in revenue.
The giants of the industry have been reporting strong growth in recent months, with TCS posting a 5.2% year-on-year rise in net profit for the June quarter and a 16% jump in revenue. BusinessToday