A vast market poised to grow.
Once upon a time HMT was amongst the largest watchmakers in the world, until it became defunct in 2016. Farzad Mistry charts its history and decline.
State-owned HMT Watches, once India's largest watchmaker, will soon be shut down after bleeding red ink for years, a consequence of a something familiar to Swiss watchmakers: cheap quartz imports. Competition from fellow Indian watch brand Titan merely added to its woes.