Mumbai: The value of the brand Tata has soared 37 percent to USD 19.5 billion in 2019, helping the conglomerate break into the top-100 in a global brands list, according to a report.
The salt-to-software group has been ranked 86th in the list compiled by the London-based consultancy Brand Finance, up from 104 in 2018, the statement said, adding it is the only domestic brand in the global top-100.
"The Tata group has seen an impressive increase in brand value in 2019, and have been rewarded by being the only Indian brand within the top 100 most valuable brands in the world," Brand Finance chief executive David Haigh was quoted as saying in a statement issued by the Tata group.
Reacting to the recognition, Tata Sons chairman N Chandrasekaran said, "this recognition will encourage us to drive our businesses in a socially responsible manner globally while continuing to strive for excellence through innovation and entrepreneurship."
The improvement in brand value was aided largely by the performance of the group's cash-cow Tata Consultancy Services, Haigh said.
The statement further said the brand value was also helped by the group's automotive and steel companies as also the inclusion of a wider number of Tata group entities for computing the value.