Mumbai (Maharashtra) [India], January 17 : Jio, relatively a newcomer, was recognized as the strongest brand from India, in the latest report 'Global 500 - 2024' published by Brand Finance, ahead of multi-decade-old Indian brands like LIC and SBI.
Jio had topped India's strong brands in Brand Finance's 2023 rankings as well.
The telecom company was placed at 17th among the world's strongest brands with a Brand Strength Index of 88.9, behind the likes of WeChat, Google, YouTube, Deloitte, Coca Cola and Netflix and ahead of brands like EY, LIC, SBI and Instagram.
"Jio, a relatively newer entrant in the telecommunications sector, emerges as the strongest brand with a notable 14 per cent increase in brand value to USD 6.1 billion, alongside a high brand strength index score of 89.0 and associated AAA brand rating," mentioned the report.
"Jio's meteoric rise in the telecom industry is benefiting from substantial brand investment by the Reliance Industries conglomerate, delivering rapid customer base growth and revenue growth. The brand's high brand strength index and AAA rating are reflected in its rapid customer base growth, market innovation, and strong brand perception," it added.
The methodology of Brand Finance to calculate the Brand Strength Index follows a general structure incorporating the three pillars Brand Inputs, Brand Equity and Brand Performance.
The attributes included are different depending on the sector. These attributes are weighted according to their perceived importance in driving the following pillar: Brand Investment measures in driving Brand Equity; Brand Equity measures for Brand-Related Business Performance measures; and finally the relevance of Brand-Related Business Performance measures for driving business value.
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