Reliance Jio, the telecommunications giant, has been recognized as India’s strongest brand in the ‘Global 500 – 2024’ report published by Brand Finance. This recognition places Jio ahead of established Indian brands such as LIC and SBI. Notably, Jio had also topped the list of India’s strong brands in Brand Finance’s 2023 rankings.
Ranked 17th among the world’s strongest brands, Jio boasts a Brand Strength Index of 88.9. This places it behind global powerhouses like WeChat, Google, YouTube, Deloitte, Coca Cola, and Netflix, but ahead of brands like EY, LIC, SBI, and Instagram.
The report highlighted Jio’s impressive performance, stating, “Jio, a relatively newer entrant in the telecommunications sector, emerges as the strongest brand with a notable 14% increase in brand value to USD 6.1 billion, alongside a high brand strength index score of 89.0 and associated AAA brand rating.”
Jio’s rapid ascent in the telecom industry is attributed to substantial brand investment by the Reliance Industries conglomerate, which has resulted in rapid customer base growth and revenue growth. The brand’s high brand strength index and AAA rating are a testament to its market innovation and strong brand perception.
Brand Finance calculates the Brand Strength Index using a general structure that incorporates three pillars: Brand Inputs, Brand Equity, and Brand Performance. The attributes included vary depending on the sector and 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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