According to Brand Finance’s recently released Nation Brands 2018 report, India was ranked 9th out of top 50 valuable national brands.
Italy replaced India to secure the eighth spot.
India fell in the list for the 2nd consecutive year despite a positive 5% growth in brand value from the previous year.
The US grabbed the first spot in the list again, where its brand value rose 23% from the past year.
China again came on the 2nd position followed by Germany, UK, Japan, and France.
The methodology used by the London-headquartered consultancy, Brand Finance, is based on the royalty relief mechanism employed to value the world’s largest companies.