ONGC has strengthened its brand position, climbing from 10th position last year to 7th this time. According to a recent study conducted by consultant Brand Finance, ONGC ($3.4 billion) has secured the 7th rank among top 10 most valued brands of India.
The improvement in the oil major’s brand index comes with a bigger cheer this time. There has been an aggressive competition for places in top 100 brands. Emerging brands in e-commerce, telecommunications and technology and banking services are particularly competitive. Considering the turbulent world oil scenario, India’s national oil company (ONGC) has all the reason to be happy at this latest brand scorecard.
Among the public sector turf, ONGC settles at the 3rd position among Indian top public enterprises of the country, following two retail-space peers.
Brand Finance values brands on several factors. Apart from financial metrics, the future prospects are also evaluated in a competitive context to assign brand strength indices. “Reputation is a measure of the effectiveness of transmitted belief about attitudes showcasing respect” says the Chief Spokesperson of India’s Most Reputed Brands.