India ranks second in Asia for intangible value, holding $3.8 trillion in assets | Press Release

Brand Finance’s GIFT™ 2025 data shows India accounts for 23% of Asia’s total intangible value, ahead of Japan which represents 17%

• India ranks 16^th globally for total intangible value
• Banking ($572.0 billion) along with engineering and construction ($472.0 billion) are India’s largest intangible sectors
• Telecoms recorded the biggest year-on-year increase, rising from $23.0 billion to $165.0 billion in intangible value
• Reliance Industries holds the highest total intangible value among Indian companies at $150.0 billion
• NVIDIA becomes the company with highest intangible value globally at $4.3 trillion

MUMBAI, 16 December 2025 – In 2025, the value of intangible assets owned by the world’s largest companies has reached USD97.6 trillion, according to a new report from Brand Finance, the world’s leading brand valuation consultancy. This represents a 23% increase from 2024, now reaching its highest level since Brand Finance began tracking it in 1996.

The Brand Finance methodology relies on the enterprise value of firms to determine implied intangible asset value because most intangible asset value is not reported by the owner companies. This lack of reporting is why 83% of estimated total global intangible asset value is unaccounted for in company financial reports.

Every year, the Brand Finance Global Intangible Finance Tracker (GIFT™) report tracks the value of the world’s largest companies by intangible asset value. Intangible assets are identifiable, non-monetary assets without physical substance. Intangible assets can be grouped into three broad categories: rights (including leases, agreements, contracts), relationships (including a trained workforce), and intellectual property (including brands, patents, copyrights).

According to Brand Finance’s GIFT™ 2025 data, India’s total intangible value stands at USD3.8 trillion, placing it second in Asia with a 23% share of regional intangible value and 16^th globally.

Within India, the banking sector remains the largest contributor to total intangible value at USD572 billion, driven by HDFC Bank (USD119.2 billion), ICICI Bank (USD87.0 billion), Bajaj Finance (USD52.9 billion), and State Bank of India (USD35.1 billion). Recent investor protection reforms and continued expansion in digital financial services have further strengthened the sector’s momentum.

This is followed by the engineering and construction sector at USD472.0 billion, led by Larsen & Toubro (L&T), demonstrating the sector’s continued role in national infrastructure development.

Telecoms, the third largest sector, recorded the largest year-on-year increase in intangible value, rising from USD23.0 billion (2024) to USD165.0 billion. The sector is supported primarily by Bharti Airtel (USD139.8 billion), which has the country’s second-highest intangible value among Indian companies. Growth in the telecoms sector was supported by rising digital consumption and increased uptake of data services, according to the Telecoms Regulatory Authority of India’s annual report.

Notably, Reliance Industries is the single largest contributor to India’s intangible value among leading Indian companies at USD150.0 billion, underpinning its influence across core industrial sectors.

Ajimon Francis, Managing Director, Brand Finance India, commented:

“India’s growing position in Asia’s intangible value landscape is a testament to the ambition of its leading industries. Representing 23% of Asia’s total intangible value and being second only to China (54%) and staying ahead of Japan (17%), India is steadily deepening its intellectual and creative capabilities. With continued focus on innovation and talent development, Brand Bharat is well-placed to expand its influences across the region in the years ahead.”