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 USD 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.
He noted that independent Swiss brands are also showing interest in entering the Indian market, often through partnerships with Titan, while established players are expanding boutiques and multi-brand footprints.
According to Shukla, established Swiss makers may pass on benefits to consumers and become more competitive in India’s fast-growing premium and luxury watch market, which generally starts at prices of Rs 50,000 and above.
“We co-invest with partners to build brand equity. We already work with several brands and will launch a few more within this financial year,” he said.
Shukla said such “story-led” Swiss brands are finding traction in India, and their contribution to Titan’s watch business will certainly increase.
“Swiss watches largely play out through our Helios chain. Watches priced above Rs 50,000 now contribute more than half of the business in that chain,” he said.
In FY’25, Titan’s ‘Watch & Wearable’ segment had reported a revenue of Rs 4,576 crore, with a growth of over 17 per cent, which, the company said, was a “defining year”.
When asked about the third quarter, Shukla said Titan is yet to declare its results but at an aggregate level, demand in Q3 seems quite robust.
“It has been a strong run and the overall trajectory continues to move upward. We are quite ambitious about our plans, which reflect our recent performance, especially in the premium segment,” he said.
Moreover, Titan has announced Gukesh D, the youngest world chess champion in history as Titan of the Year 2026. It has launched limited edition timepiece honouring him.
“‘ Titan of the Year’ is a tangible extension of this legacy, celebrating individual excellence and collective national pride. With this platform, our vision is to create a permanent horological gallery, that chronicles Indian brilliance through time. We recognise individuals whose contributions extend beyond the horizon, strengthening the country’s presence on the world stage,” said Shukla.
With extraordinary achievements and an inspiring journey in the world of chess, Gukesh was the natural choice for this honour, he added.
