Tag Archive: Indian

When Is A Swiss Watch Not Swiss? When It’s Indian

In January 2012, the Indian Department of Industries, Policy and Promotion removed restrictions on foreign investment in single-brand retail. Good news it seemed. Except it was also mandatory for foreign firms to source at least 30 percent of their requirements from medium and small enterprises.

India’s decision to establish the 30 percent local sourcing clause for single brand retailers has not just annoyed Ikea, the Swedish furniture maker. Swiss watch companies are also disappointed about the news. Companies in the watch industry have made it clear that the clause would ruin their brand of ‘Swiss-made’ products. One dissatisfied international manager from Hugo Boss watches, who was making efforts to set-up operations in India, made the simple assertion that it’s just “not going to be a Swiss watch if the components are sourced from here”.

Mr Debraj Sengupta, the Country Head of Swiss Army Watches in Victorinox, India, went on …