Titan eyes Swiss watch boom post EU trade pact
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New Delhi: Leading watch maker Titan Company expects sales of luxury Swiss watches to rise sharply in India following the recent India-EU Free Trade Agreement, which has further lowered import duties on such products, said a top company official.
The Tata group firm, which operates Helios and Helios Luxe formats, said Swiss brands will become more competitive in the domestic market as they pass on duty benefits to consumers.
Its Swiss segment has been growing substantially and is in talks with more brands for its chain of Helios and Helios Luxe, Titan Watches Chief Sales & Marketing Officer Rahul Shukla told PTI.
"Swiss watches will play a larger role, and the premium segment will drive the next phase of growth," he said.
Duties on Swiss watches have already come down from about 22 per cent to 15 per cent under the India-EFTA FTA, which came into force on October 1, 2025. Switzerland is part of the four-nation European bloc EFTA. The India-EU FTA is expected to further reduce duties. "This is the second phase of the agreement. Swiss watch duties have already come down from about 22 per cent to around 15 per cent. I expect more action in the Indian watch market, particularly from Swiss brands," he said.
The company is also bullish on its overall watch business, targeting $1 billion in sales next year and aiming to double that figure by FY30, banking on premiumisation, rising demand, and a stronger play in luxury formats.
"We have set a target of reaching a one-billion-dollar business next year. We are looking at doubling that to a two-billion-dollar business by FY30. We are confident about the growth trajectory and the opportunity in the Indian market," said Shukla.
He added that the Swiss watch segment has been growing substantially and is expected to heat up further, including from domestic players and private equity-funded companies that see watches as a high-growth category.
Titan has tied up with four to five Swiss brands for its Helios and Helios Luxe formats, with more partnerships in the pipeline.
