NEW DELHI: India has moved up two spots to become the seventh most valuable ' nation brand ’ in the world. It’s brand value increased by a whopping 19% in the last one year to $2,562 billion, according to the annual report on the world's most valuable nation brands compiled by Brand Finance ."The Indian economy was quick to recover after the global financial crisis, with growth now reduced by a recent slowdown in both the manufacturing and construction sectors," it said.With a brand value of $27,715 billion, US retains the title of the world’s most valuable national brand. It is followed by China, which saw an increase in its brand value by a whopping 40% to $19,486 billion over the past one year. Germany ranks third.On the other hand, by registering an impressive 26% growth, Japan replaced the UK as the fourth most valuable nation brand. The latter saw a mere 3% uplift from last year.David Haigh, CEO of Brand Finance, said, “Japan is increasingly becoming a tourism hotspot, with millions visiting every year hoping to soak up the culture and explore all the country has to offer. With the nation currently hosting the 2019 Rugby World Cup and next summer’s Tokyo 2020 Olympics just around the corner, there is no doubt we will see an even greater uplift in Japan’s brand strength in the future.”Among others that made it to the top 10 include France, Canada, Italy and South Korea. While Canada went down one spot ( 7th to 8th), Italy dropped two positions (8th to 10th). South Korea , on the other hand, inched up one place from the previous year.According to the report, 11 out of the 20 fastest-growing nation brands of 2019 come from the Middle East and Africa.Also, Turkey has recorded a remarkable turnaround from its performance in 2018, going from a loss of almost a third of its nation brand value, to this year leaping up 47% to $560 billion.