A report by Brand Finance Plc., a UK based independent brand valuation consultant, has estimated that the top 500 global brands lost about 25% of their value in 2008 due to the global financial meltdown. But the 'Tata' brand held up relatively well against this, eroding by less than 16%. Tata is the only Indian brand in the top 100 of the rankings, and held the 51st position for 2009, up six places from its ranking for 2008. The consultant found the Tata brand to be worth US$ 9.9 bn and its 16% decline in value was moderate against the huge 40% to 60% slump in brand value of many iconic brands over the same period. For example, brand Citi recorded a 59% erosion in value, Dell 60%, Mercedes-Benz 48%, and AIG 62%. Mr. Gopalakrishnan, the executive director of Tata Sons said that the brand didn't take a hard hit in relative terms for various reasons, and that "The brand has been built on a platform of a century of ethical behaviour." Couldn't agree more! Incidentally, the year saw Wal-Mart emerge as the world's top-ranked brand, thus displacing Coca-Cola which held top spot last year.
Look at government inefficiency, food prices have galloped at an alarming rate over the last few months. Some blame it on the poor monsoons. Some blame it on hoarding by greedy middlemen. In my opinion, the government unknowingly itself is a massive hoarder. As per a report in a financial daily, the stock of rice and wheat in government granaries is way above the minimum requirement. Sadly, much of this excess stock is stored in the open. It either rots or feeds pests. In my view, this is a national shame. We cannot get the basics right in such a crucial area when food prices are spiraling out of control and millions of Indians still go hungry. Such stocks should be stored properly and released in small lots to stabilise prices.
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