`Sustainability not a buzzword; What’s good for India is good for Tata Group’: N Chandrasekaran
Sustainability is not a buzzword. Whatever net zero target organizations set for themselves will get advanced because of social pressure, Tata Group chairman N Chandrasekaran, said in a keynote address at the launch of Kantar BrandZ India 2022, where Tata Consultancy Services (TCS) emerged as the most valuable Indian brand.
Chandrasekaran said because of the work that has been done by the founders of Tata Group, he and his colleagues have the responsibility to live up to that reputation every single day.
“The fundamental strength of our success comes from the purpose. Founder Jamsetji Tata had said that community is not just another stakeholder in business but is, in fact, the very purpose of its existence. Tata Group’s businesses have been built with only this purpose in mind. I don’t think they had a bunch of analysts and number crunchers producing spreadsheets, trying to put together a 5-year plan or ten-year plan or ROI,” said Chandrasekaran.
“We continue to play that way. In the businesses we are launching — yes, we look at spreadsheets and cash flows because I don’t think any business can sustain if we don’t look at cash flows—we continue to focus on areas where there is a nation building effort or something that is important to India, something important to the people and there is a business opportunity,” said Chandrasekaran.
Over 800 million consumers use Tata products. The Group is getting into batteries, indigenous 5G technology, precision electronics, semiconductors. “To my mind, we will continue to be guided by what is good for India will be good for Tata Group,” said Chandrasekaran.
India’s strongest brands have bounced back from the pandemic to increase their brand value by 35% CAGR since 2020, when Covid-19 hit the country, according to leading marketing data and analytics company, Kantar.
India’s top 75 brands are worth a combined $393 billion, equivalent to 11% of India’s national GDP. Kantar said the growth rate of the `Kantar BrandZ Top 75 Most Valuable Indian Brands’ far outpaces the rate of growth being posted in other major markets around the world.
Deepender Rana, Executive Managing Director- South Asia, Insights Division, Kantar, said: “India’s leading brands have grown at an exceptional rate, despite global economic headwinds, putting the disruption from COVID-19 behind them. Indeed, they have both driven and benefited from the transformation in consumer and business behaviour as a result of COVID-19, especially where it relates to the use of technology. The challenge now is to sustain momentum as inflation bites worldwide and consumers and businesses adjust to the new normal. Brand owners will need to work harder to identify and build on what makes worth paying for and ensure ROI on their marketing expenditure to avoid a margins squeeze.”
According to Kantar, overall, 65% of Indians feel anxious about climate change, and 64% believe businesses must play their part. The highest-ranking brands in the Top 75 are clear on purpose and have a relevant sustainability agenda.
Soumya Mohanty, Managing Director, Insights Division, Kantar says: “Purposeful and sustainable brands are rewarded. Indian consumers look further than the brand attributes that affect them personally – they want brands to improve people’s lives and have a positive impact on wider society. They vote with their wallets, choosing brands they see as ‘doing the right thing’. Indian brands should have a clear view of their purpose, connect strongly with it by embedding it in their culture, talk about it in creative and powerful ways, and deliver on it – without fail.”
TCS (US$45.5 billion) is the new number one most valuable Indian brand, claiming the top spot from HDFC Bank (no.2, $32.7bn) which had held the position since the first ranking was unveiled in 2014.
MUMBAI: Sustainability is not a buzzword. Whatever net zero target organizations set for themselves will get advanced because of social pressure, Tata Group chairman N Chandrasekaran, said in a keynote address at the launch of Kantar BrandZ India 2022, where Tata Consultancy Services (TCS) emerged as the most valuable Indian brand.
