The growth in value of India's 75 most valuable brands has sharply decelerated to a mere 6% for the 2024-25 period, a significant drop from the impressive 19% surge witnessed the previous year. This slowdown is primarily attributed to muted consumer appetite across the country, according to the latest Kantar BrandZ Most Valuable Brands Report for 2025.
Valuation and Market Dynamics
Despite the growth slowdown, the combined valuation of these leading brands managed to climb to $475.4 billion. The comprehensive Kantar study, which evaluates how brands contribute to business financials, analyzed a vast pool of 1,620 brands spanning 112 different categories. Its unique methodology blends hard financial data with extensive research into consumer perceptions and equity.
The Rise of the Experience Economy
In a notable market shift, the report highlights a strong momentum towards the experience economy, even as mass consumption remains sluggish. Brands in the travel and hospitality sectors have emerged as some of the year's top performers. Taj, IndiGo, and MakeMyTrip are among the biggest climbers in the rankings, lifted by a clear consumer trend of prioritizing experiences over everyday essential goods.
This trend is further echoed by the performance of other brands. Zomato, crowned the fastest-growing brand, is expanding into lifestyle categories with its 'District by Zomato' dine-out application. Similarly, the entry of the retail chain Westside into the rankings underscores the same consumer preference shift.
Brand Value Lags Behind GDP Growth
A significant paradox highlighted by the Kantar study is that India's brand value growth is now lagging behind the nation's GDP expansion. This indicates that the country's robust economic performance is not successfully translating into proportional brand value creation.
Compounding the issue of weak demand is a steady decline in consumer equity. The proportion of Indian brands that consumers find appealing or meaningfully different has plummeted dramatically, from nearly 12% in 2014 to just 4.3% in 2025.
What Makes a Brand Successful?
The report offers a clear formula for success: brands that distinguish themselves through unique value and relevance consistently outperform their competitors. Those that have maintained their position in the rankings since 2019 delivered an extra 29% in brand value growth, a feat achieved by effectively delivering both meaning and difference to consumers.
Prime examples of this strategy in action include HDFC Bank, which focuses heavily on innovation, and Royal Enfield, which cultivates deep brand loyalty through immersive community experiences like its Motoverse event held in Goa.
According to the rankings, HDFC Bank is India's most valuable brand, with its value increasing by 18% to nearly $45 billion. Other top valuable brands include Tata Consultancy Services (TCS), Airtel, Infosys, and ICICI Bank. The banking and financial services sector continues to dominate the rankings, followed by B2B tech and telecom providers.
Reflecting India's ongoing infrastructure boom, the cement sector made a strong showing this year. Four cement brands entered the ranking for the first time, led by UltraTech Cement, and followed by Bangur Cement, Ambuja Cement, and JK Cement.
