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Aspiration: Behind the rise of luxury watch market in India
Mint Mumbai
|June 25, 2025
India's appetite for Swiss watches shows no signs of abating. Exports of these timepieces to India rose over 10% year-on-year in the first five months of 2025, driven by aspirational buyers and evolving tastes.
Exports of Swiss watches to India rose to 104.3 million Swiss francs (₹1,100 crore) in January-May, up from 94.2 million francs in the same period of 2024, according to the Federation of the Swiss Watch Industry (FH). This follows a strong performance in 2024, when exports reached nearly ₹2,600 crore.
While globally Swiss watch markets such as China and Hong Kong have slowed, India has emerged as a bright spot with the strong momentum expected to carry through the wedding and festive season. Industry players say demand is not only rising, but also shifting towards higher price points and more design-driven choices.
This year, growth is likely to match or even surpass last year's, retailers and distributors told Mint.
This story is from the June 25, 2025 edition of Mint Mumbai.
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