<p>The total value of India's strongest brands has risen by a third (33 per cent) over the last year, according to the second annual BrandZ Top 50 Most Valuable Indian Brands ranking by WPP and Millward Brown. This is the highest rate of growth achieved by any BrandZ ranking in the 10 years since valuations began, exceeding that of the Global Top 100 as well as the rankings for China, Latin America and Indonesia.<br><br>David Roth, Chief Executive Officer of WPP's The Store commented, "The 2015 study shows that India is a market of great opportunities where consumers are feeling empowered, and this is increasingly reflected in their brand choices. The new Modi government is committed to creating an environment in which brands can flourish. India is distinct in many ways from other fast-growing markets, however, so simply applying strategies that have proved successful elsewhere will not work in India. Any brand intending to compete in India must gain deep insights into its nuances - such as the need to modernise while respecting the past, and the desire to remain fundamentally Indian."<br><br>India's Top 50 brands are now worth $92.2 billionn (up from just under $70 billion in 2014). The record-setting value increase has been driven by brands' successful response to the rising sense of empowerment among Indian consumers, and the government's efforts to create a more conducive business environment.<br><br>Prasun Basu, Millward Brown's Managing Director, South Asia said, "India's top brands are strong, and getting stronger - but there is no room for complacence. The top four had to grow their value by 37 per cent on average to hold on to the same positions as last year, and close to 10 per cent of the brands that made the Top 50 in 2014 have dropped out. To benefit from the continuing rise in consumer confidence and optimism brands need to understand the changing consumer, respond with innovative products and breakthrough communication, and experiment and invest in new media that reflect the spirit of the country today."<br><br><img alt="" src="http://bw-image.s3.amazonaws.com/tablelrg.jpg" style="width: 632px; height: 244px;"><br><br>Brands in the financial sector with more than 49 per cent growth made the largest contribution to the overall increase in value, but significant lifts were also seen across most other sectors, indicating the broad strength of India's economy and Indian brands. Home and personal care brands achieved a combined increase of 32 per cent, followed by the auto aftermarket sector at 28 per cent, automobile brands at 27 per cent and telecom providers at 21 per cent.<br><br>Private companies, state-owned enterprises and brands owned by multinational corporations that are publicly traded in India all experienced growth, illustrating how receptive the market is to brands of all kinds. This is evident from the fact that more than half of the brands in the Top 50 are privately-owned, tracking India's entrepreneurial energy. Furthermore, 30 per cent of the brands are owned by multinationals, which have successfully adapted to the needs of Indian consumers, becoming so embedded in their lives that they are perceived as 'local'.<br><br>Ranjan Kapur, Country Manager, at WPP India, added: "Building a successful brand in India also means helping to build India itself. Consumers are trustful of brands, but trust can crumble overnight. Brands must work hard to sustain trust by connecting with the country's communal sense of responsibility. Brands need to find ways to support the national agenda, and help to develop a more modern, prosperous and equitable society."<br><br><em>BW Online</em></p>
