Mumbai: Global brand consultancy firm Brand Finance has released its 2017 report that gives Ratan Tata-led Tata Group with an estimated brand value of $13.1 billion top rank in valuation in India.
The $103 billion tea-to-steel conglomerate once again came at number one position in India’s 100 most valuable brands. This despite Tata's value declined 4 per cent from $13.7 billion in 2016.
A report on livemint cites speculations that legal tussle between ousted Tata Sons chairman Cyrus Mistry and Ratan Tata might have brought down the brand value of Tata Group.
Earlier, due to the same reason, Brand Finance report had shunted out Tata Group from list of top 100 brands in the world, first time since 2007. In the fresh report, the global brand valuation firm has given a different perspective.
However the report said, "Tata’s Brand Strength Index score has improved 'significantly' as the Group quickly implemented 'corrective actions', as a result shareholders’ value was not affected significantly."
The brand value drop of 4 per cent is clearly not positive, however it is a lesser decline than between 2015 and 2016, when brand value fell 11 per cent, the report added.
