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Swiss urged to look to India
Bangkok Post
|October 09, 2025
India and Mexico could become new drivers of growth for the Swiss watch industry, which has been clobbered by US tariffs and slumping demand in China, top audit firm Deloitte said yesterday.
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The emblematic Swiss industry “is navigating one of the most complex periods in recent memory’, the professional services giant said in the 11th Deloitte Swiss Watch Industry Study.
Watchmaking, the wealthy Alpine country’s third-largest export sector, was rocked when the United States — its largest market — imposed 39% tariffs on Swiss products in August.
Furthermore, exports to mainland China — the other major market for Swiss watch manufacturers — continue to decline, with demand hit by youth unemployment and turbulence in the real estate market.
According to figures from the Federation of the Swiss Watch Industry (FH), exports to the United States last year amounted to 4.4 billion Swiss francs ($5.5 billion) — up five percent on 2023.
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