India Leads Growth in Swiss Watch Imports Worldwide

Experts say this growth reflects mixed consumption patterns, and not just luxury demand

- Varuni Khosla

Wealthy Indians are increasingly commissioning unique, handcrafted, luxury timepieces from top global watchmakers. For instance, a business family in Maharashtra has ordered a custom-made grand fireplace clock worth ₹5-6 crore from a prestigious French watchmaker. The clock, which will be ready in the coming months, is being created by April H., a private French company that has been making luxury timepieces for over 300 years.

Then, a 40-year-old Delhi-based luxury watch connoisseur recently acquired his first Ludovic Ballouard watch. The Geneva-based independent watch company is a brand very few in the world know about, as most of its watches start at a steep price tag of $70,000 (₹60 lakh) apiece. The buyer customized the piece for himself and etched the dates of birth of his two children, ultimately shelling out ₹1.6 crore for the watch.