India’s brand value has grown by 19% (more than US$400 billion) this year to reach US$2.6 trillion, according to a report by brand valuation consultancy Brand Finance.
According to the study, the increase in the brand value comes on the back of India being seen as a secure and stable country to invest in. Development in technologies like electric vehicles and mobile phone manufacturing has also seen the brand value increase.
USA retained its top spot, followed by China. Germany replaced Japan as the third most valuable nation. Japan is fourth on the list, followed by the United Kingdom, France and India.
Post its invasion of Ukraine, Russia has recorded the largest fall in brand value. It's down by US$144 billion compared to 2021. The decision to go to war has been cited as the reason for Russia’s economic standing.
The total value of the world’s top 100 nation brands stands at US$97.2 trillion, up 7% year on year and only marginally behind the pre-pandemic value of US$98.0 trillion in 2019.
India was ranked ninth among the fastest growing nations in terms of brand value. Serbia topped the list followed by Georgia and South Africa. According to the study Serbia and Georgia's growth in brand value comes after attracting Russian businesses displaced by international sanctions.