Tata among 100 most valuable global brands

Why in news?

• Tata’ has entered the list of top 100 most valuable brands, according to the Brand Finance Global 500 2019 report released at the World Economic Forum in Davos.
• Climbing up from the 104th position to 86 this year, the Tata brand is the only Indian brand in the top 100, the total value of brand ‘Tata’ increased 37% to $19.5 billion in 2019 from $14.2 billion a year ago.

Improved performance

• According to Brand Finance, a leading brand valuation and strategy consultancy, the increase in the valuation of the Tata brand is the result of improved performance of key Tata companies that include Tata Consultancy Services, Tata Motors and Tata Steel.
• Tata’s brand value of $19.5 billion represents 17.6% of Tata Group’s total revenues of $110.7 billion.
• Chandrasekaran, chairman, Tata Sons, loud that Tata has always been synonymous with trust and leadership and these brand attributes are even more important to all our stakeholders today. This recognition of the strength of our brand will encourage us to drive our businesses in a socially responsible manner globally while continuing to strive for excellence through innovation and entrepreneurship.
• Inclusion of a wider number of Tata entities for a more segmented and complete view of the Tata Group Brand Value and increase in the Tata group’s overall brand strength had aided the improved rankings.
• Solid increase in group’s brand value has largely been driven by an outstanding year for Tata Consultancy Services (TCS) which improved on its brand strength and for the first time, rated a AAA brand.”
• Founded by Jamsetji Tata in 1868, the Tata Group is a global enterprise comprising 30 firms across 10 verticals in more than 100 countries across six continents, collectively employing more than seven lakh people.

(Industry)(The Hindu)

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