The Modi effect helped India move up a spot to No.8 in a ranking of the world’s most valuable nation brands released by UK-based brand consulting firm Brand Finance.
The US remained No.1 with a valuation of $19.3 trillion, while China came in at No.2 with a valuation of $6.4 trillion. India had a valuation of $1.62 trillion, according to the consulting firm which ranked 100 countries.
“Though the appointment of India’s new Prime Minister Narendra Modi was greeted cautiously by many Western governments, he has provided a renewed sense of purpose to India’s bureaucracy, improving confidence at home and abroad in the ease of doing business there. The India Brand Equity Foundation is reinforcing that message, providing a gateway for investors by providing information on India’s products, services and business climate with the aim of promoting international awareness of the Made in India label in markets overseas,” the Brand Finance report said.