India Becomes 7th Most Valuable Nation Brand In the World, Sees 19% Growth
India jumped two spots to become the 7th most valuable ‘nation brand. in the world. India’s brand value increased by as much as 19% to $2,562 billion in last one year, According to most nation brand ranking 2019, prepared by Brand Finance.
This despite a reduction in the overall economic growth due to slowdown in the manufacturing and construction sectors.
“The Indian economy was quick to recover after the global financial crisis, with growth now reduced by a recent slowdown in both the manufacturing and construction sectors,” the report said. “The Indian government has launched several initiatives to try and boost the nation’s exposure on the world stage, including ‘Make in India’ and the Swachh Bharat mission,” it said.
The US retained the top spot with a brand value of $27,715 billion. China came second in most valuable nation brand index with a total valuation of $19,486 billion, witnessing a whopping 40% rise. Germany was ranked third.
Brand Finance, the leading brand valuation and strategy consultancy, released its annual report on the world’s 100 leading ‘nation brands’. Using a method more usually applied to companies, Brand Finance provided a comprehensive report on the world’s leading nation brands and the impact that a country’s reputation and image has on governments, investors and consumers.
The CEO of Brand Finance David Haigh said “With the Western world seeing a real crisis of leadership on both sides of the Atlantic, the developing world is catching up. Bolder, more agile, increasingly innovative African, Middle Eastern, Asian, and Latin American nation brands are racing ahead at breakneck speed, poised for further growth in the years to come.”
According to the report, Pakistan (brand value US$140 billion) is one of the poorest and least developed countries in Asia and is struggling to grow at the same rate as its burgeoning population. Growing tensions in Kashmir are also contributing to the nation’s difficulties.