Bangalore, March 24 (IANS): Brand value of Indian IT bellwether Tata Consulting Services (TCS) zoomed 58 percent this fiscal (2013-14) to $8.2 billion from $5.2 billion the last fiscal with recognition as the world's fastest growing global IT services brand.

According to the London-based brand valuation firm Brand Finance, TCS brand value grew faster than its global peers IBM, whose brand value grew 10 percent year-on-year (YoY) to $41.5 billion from $37.7 percent; HP 23 percent YoY to $19.8 billion from $16.1 billion and Accenture 22 percent YoY to $11 billion from $9 billion.

"The record growth represents a quadrupling of our brand value from $2.3 billion in 2010 and we rank among the industry's top four brands for the second consecutive year," the Mumbai-based company said in a statement here Monday.

Brand Finance has awarded the TCS brand a rating of AA , which is a top rating in the industry.

"Calendar year 2013 was excellent for us, with rapid business growth, driven by global demand for digital services and our reputation for industry leading delivery and execution," TCS chief executive N. Chandrasekaran said on the occasion.

The $11.6-billion global software major has a reputation for its ability to deliver industry-leading IT services and digital transformation projects across sectors and markets.

"We are making efforts in each market we operate in to localise our brand presence and play a stronger role in the economic, social and community fabric of the regions. It is gratifying to see that result in another year of strong performance, with our company emerging as the fastest growing brand in our industry worldwide," Chandrasekaran said.

The company also invests in its brand presence worldwide, delivering award-winning marketing and public relations programmes, major sports sponsorships and a range of corporate social responsibility activities across key markets.

"Brands are the most valuable assets that companies own, driving demand and building relationships with customers and partners," Brand Finance founder David Haigh said in the statement.

TCS has entered into an eight-year partnership with New York Road Runners to take on the role of title sponsor for the New York Marathon from this year.

"We also sponsor Berlin, Amsterdam, Chicago, Boston, Bangalore and Mumbai marathons as part of our focus on health and wellness," the statement added.