Bhubaneswar: In the most recent ‘Global 500 – 2024’ report by Brand Finance, Jio, a relatively new player in the telecommunications sector, has continued as the strongest brand from India. This recognition places Jio ahead of well-established Indian brands like LIC and SBI. Notably, Jio had already claimed the top spot in Brand Finance’s 2023 rankings for strong brands in India.
Ranked 17th globally among the strongest brands, Jio boasts a robust Brand Strength Index of 88.9. This positions it behind prominent names such as WeChat, Google, YouTube, Deloitte, Coca Cola, and Netflix, but ahead of brands like EY, LIC, SBI, and Instagram.
The report highlights Jio’s impressive performance, citing a significant 14% increase in brand value to USD 6.1 billion. The brand’s strength is further emphasized by an 89.0 Brand Strength Index score and an associated AAA brand rating. The report attributes Jio’s meteoric rise in the telecom industry to substantial brand investment by the Reliance Industries conglomerate, resulting in rapid customer base and revenue growth. The brand’s high index score and AAA rating are indicative of its swift customer base expansion, innovative market practices, and a robust brand perception.
Brand Finance’s methodology for calculating the Brand Strength Index involves three key pillars: Brand Inputs, Brand Equity, and Brand Performance. Attributes vary based on the sector, with weights assigned according to their perceived importance in driving each pillar. Brand Investment is crucial for driving Brand Equity, Brand Equity is essential for measuring Brand-Related Business Performance, and the relevance of Brand-Related Business Performance measures contributes to driving overall business value.