EXPANDING INFRASTRUCTURE
Experts say improvements in retail infrastructure are also enabling growth.
“We are adding a lot of real estate to retail and luxury real estate which used to be a big bottleneck for brand boutiques to start,” noted Mitrajit Bhattacharya, founder of Mumbai-based watch business consulting firm The Horologists.
“Most of the big brands are here, and even brands like Van Cleef are going to come in this year,” he added, referring to the French luxury jewellery company.
The premiumisation trend is evident in sales data.
The share of premium-and-above watches in India’s total watch sales surged from 48 per cent in 2020 to 70 per cent in the 2025 financial year.
TRADE DEAL BOOSTS OUTLOOK
This comes after India signed a trade deal with the ETFA, which came into effect in September last year.
The agreement reduced import duties on Swiss watches from 22 per cent to just over 15 per cent, with tariffs expected to fall to zero by 2031.
Read the full article here
