By: Roger Ruegger
Even boefore Anant Ambani’s extravagant wedding in 2024 (with stunning watches from Patek Philippe and Richard Mille on display already during lavish pre-wedding festivities), the watch industry has been treating India as a “priority country”. More importantly, thanks to a free trade agreement that came into effect last October, Switzerland’s watchmakers are now directly connected to what is widely considered to be the fastest growing market for luxury in the world. India’s own watch industry, on the other hand, is also rapidly extending its watchmaking capabilities into the high end segment, and has already inspired a couple of innovative national watch brands to look for customers outside their main market.
According to the United Nations’ World Population Dashboard, India’s population reached slightly over 1.428 billion in April 2023, surpassing that of China, making it the most populous country in the world, and representing aproximately one-sixth of the world population. Current projections suggest the population will reach 1.7 billion in the next two decades. Unsurprisingly, this trend is already starting to show in the Swiss watch industry’s export numbers, despite a tougher global market environment.
The total value of Swiss watch exports was 24.4 billion francs last year, a decrease of 1.7% compared with 2024, with Asia seeing a decline of -3.8%, “driven by negative performance in Japan, China and Hong Kong”, according to the Federation of the Swiss watch industry FH. The number of watches exported fell by 4.8% to 14.6 million (740,000 fewer than in the previous year).
In the FH’s statistics on Swiss watch exports, India is currently grouped in “Other Asian countries” and does not yet show up in the list of the 15 largest markets (but should be in the top 20). The “Other Asian countries” group has grown from 6.5% to 9.5% since 2000 (when compared to the total value of watch exports), representing a total value of 2.42 billion francs in 2025 (compared to 4.35 billion francs exported to the No. 1 market, the United States).
For some Swiss brands, India is not just one of the most promising markets, but has in fact already been vital for years: Rado, for example, made 42% of its business in “India & MEA” in 2025. India is now the brand’s number one market worldwide, supported by a retail network of over 210 points of sale, including more than 37 exclusive boutiques and 175 multi-brand outlets. Favre Leuba, with historically deep ties to India, had been acquired by the Tata conglomerate in 2011, and since 2023, Ethos owns a stake in Favre Leuba (through Silvercity Brands) and sells Favre Leuba exclusively in India.
Perhaps more importantly, India has a thriving watch eco-system, with suppliers, established brands and micro-brands ready to serve both local and international clients. The oldest watch brand is considered to be HMT (Hindustan Machine Tools), which had set up a watch manufacturing site in Bangalore in collaboration with Citizen in 1961.
Titan, India’s leading watchmaker, is “producing over 60 million watches annually, with a workforce of 12,200 employees and fully integrated design and manufacturing capabilities.” The group operates 3,240 points of sale in 431 cities, with a presence across India, the Middle East, Southeast Asia, and North America. Last April in Geneva, Titan’s CEO Kuruvilla Markose also announced a strategy to extend Titan’s watchmaking capabilities into the premium segment with the introduction of a new watch brand “conceived as the most advanced expression of the company’s watchmaking capabilities.” The launch is set for the second half of 2026. “Positioned firmly within the domain of high horology, the brand will operate in a price band up to 50,000 Swiss francs.”
Just recently, Titan introduced the Edge UltraSlim Mechanical (Ref. 10089TM02), powered by a new manual-wound mechanical movement that is just 2.20 mm thick (Edge 903). The watch, fittingly with a case made of titanium, has already been entered at this year’s Grand Prix d’Horlogerie de Genève (GPHG), together with three other entries from India.
A much more accessible example is watch newcomer Rotoris: “We launched on a waitlist model, sold out our first drop of 2,100 watches within the first month, and have been operating direct-to-consumer from day one. The brand is built around a simple belief: Become More”, explained the brand’s co-founder Prerna Gupta in Geneva. And added: “The Rotoris story is genuinely new territory for the industry. An Indian-origin mechanical watch brand, built with rigor.”
The 40-mm Manifesta with aventurine dial and lab-grown diamonds shown here is priced at $787.50 on the brand’s website. Unsurprisingly, the 100-piece limited edition is already sold out. Rotoris not only focuses on e-commerce, the brand is also exploring more unconventional offline experiences: “Rotoris opens a private residence in Delhi. A quiet study of time, form and motion. Five collections revealed in an intimate setting. Your experience curator will guide you through each piece. […] All over drinks and fine canapés. Whether you’re ready to purchase or simply curious, the doors are open.”
Another watch that has made headlines recently: Delhi Watch Company‘s carabiner-styled field watch in titanium. It is significantly more affordable (while being quartz-powered), and almost impossible to get: “We pride ourselves on our designs and our ability to make extremely high quality watches that are accessible for all at an honest price.” The DWC Terra, too, has been entered at this year’s GPHG. With a list price of CHF 37.00, it is most likely the most affordable watch ever to be entered at the GPHG.
Ref.: Manifesta Aventurine (limited edition of 100 pieces)
Dimensions: ⌀ 40 mm
Case: stainless steel
Water Resistance: 50 m
Movement: RSGA01 (Seagull ST2502K) with 45 hours of power reserve
Strap: Teju (tegu) lizard leather with folding clasp
Warranty: “lifetime warranty” on the movement
Price: $787.50
An extreme diver's watch that comes with a surprisingly low price. Meet the most water resistant watch in Certina's history.
Read More
WatchAdvisor takes you to the best watch boutiques in one of the countries best spots for watch collectors: Geneva, Switzerland.
Read More
