India is ranked 8th on the latest list of most valuable nation brands, slipping one spot this year and ceding its previous spot to Canada. While India’s ranking reflects on the current economic slowdown in the country, Canada saw a growth of 14 per cent in its brand value. The United States retains its top position, according to the Nation Brands 2017 report of Brand Finance.
India’s less than impressive track record of implementing change makes the nation look unstable, thereby affecting its future brand value, David Haigh, the CEO of Brand Finance. India had surpassed both the United States and China to top the list of greenfield foreign direct investment (FDI) by volume in 2015, according to the report. Indian companies were also responsible for 272 overseas projects, which placed India third as an Asian source country for FDI, behind Japan and China, in 2016.
The United States, with its macroeconomic challenges and slow Gross Domestic Product, has recorded a meager growth of 2 per cent. The country’s stagnation, contributed by the retirement of the baby boomer generation, is being challenged by China, which is moving at breakneck speed and closing the value gap between it and the United States.