The Tata Group was on Tuesday declared India's most valuable brand, with a value of $21.1 billion, while US-based technology giant Apple has retained its top position globally with about $105 billion, in the annual list of the world's 500 top brands compiled by Brand Finance.
In the Global 500 list, Apple is followed by Samsung ($79 billion). The others in the top ten are Google, followed by Microsoft, Verizon, GE, AT&T, Amazon, Walmart and IBM in that order.
Tata, while retaining its top India ranking, has improved its global ranking from 39th in 2013 to 34th now. However, the number of Indian companies in the list has declined to five from six.
Other than Tata, the global rankings of all other four Indian companies have dropped. These include State Bank of India, (347th), Bharti Airtel (381st), Reliance Industries Ltd (413) and Indian Oil Corp (474).
Tata's brand value has increased from $18.2 billion to $21.1 billion, and it has consistently improved its ranking since being placed 100th in the year 2007.
The Indian company that has dropped from the list this year is ITC, which was ranked 445th last year.
According to Brand Finance, SBI's brand value has dropped from nearly $6 billion to $4 billion, while that of Airtel has marginally risen from $3.74 billion to $3.8 billion. Reliance Industries' brand value has dropped from $3.7 billion to $3.5 billion and that of IOC from $3.4 billion to $3.1 billion.
But, while Apple is the most valued brand, Italian car maker Ferrari has been dubbed the "world's most powerful brand".
Brand Finance chief executive David Haigh said Ferrari's logo of a prancing horse is ''instantly recognisable the world over''.
He added, "The legendary Italian carmaker scores highly on a wide variety of measures on Brand Finance's Brand Strength Index, from desirability, loyalty and consumer sentiment to visual identity, online presence and employee satisfaction.
"Ferrari is one of only eleven brands (along with Google, Hermes, Coca-Cola, Disney, Rolex and Ferrari's F1 racing rival Red Bull) to be awarded an AAA+ brand rating and has the highest overall score," it added.
However, "being a niche, luxury brand with an officially capped production, it is perhaps unsurprising that it is some way off being the world's most valuable. Its $4 billion brand value puts it 350th in brand value terms," Brand Finance said.