The Economic Times published a list of India’s fifty most valuable brands last month, based on data organized by UK based Brand Finance. The top rank was won again by Reliance Industries.  India’s government-sponsored bank rose three ranks to become #2, its conservative financial policies and its wide reach in India are important factors, as is  a top leadership team that is visionary; the State Bank of India is traded on the London and Mumbai stock exchanges but most of its shares are owned by the government.  The third most valuable company is also state-run:  Indian Oil Corporation.  Employing over 100,000 Indians, IT outsourcer Tata Consultancy Services ranks fourth. Its sibling in the automotive business rose a notch on the heels of the Nano car. Tata Motors is ranked fifth.