Swatch to use Indian diamonds


Indian news media report that the Swatch Group, in order to meet the condition of 30 per cent local sourcing for foreign companies engaged in single-brand retailing in India, has notified the Department of Industrial Policy and Promotion that it intends to acquire smaller-sized Indian diamonds and export them to the Group’s brands for use. To meet the 30 per cent requirement packaging materials, strap buckles and printed materials will be sourced locally.

A number of the Swatch Group’s brands are currently available in India through authorised dealers and single-brand stores operated by franchisees, but the Group intends to invest some $10 million in India over the next few years, and is planning to set up 30-35 retailers within four to five years.

The Swatch Group’s proposal comes just when the 30 per cent requirement is being re-examined, due to it being cited by non-Indian firms as being a barrier to market entry, according to the Economic Times of India.

Categories: Industry news, Swatch, Watchmaking


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