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Watch industry concerned with smuggling from China
Friday, 03 October 2003, 19:30 IST |
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CHANDIGARH: India's watch industry is concerned at the proliferation of cheap timepieces smuggled in from China, which some say have cornered almost two-thirds of the country's market.
Said Ashok Khanna, chairman of K-Watch Ltd: "Chinese products, smuggled both from Hong Kong and mainland China, have no guarantees but have taken away a two-third share of the total demand in India.
"The common man is dumped with spurious or locally assembled watches made in the grey market.
"Even by the most conservative estimates, the demand for watches in India is around 40 million a year," Khanna said.
He was speaking at the launch here of Pulse, described as "a common man's watch" with prices ranging between 
270 and 400.
Fifty percent of the domestic demand was for watches priced below 1,000, he noted.
K-Watch, which was launched in 1994, caters to the north Indian market.
Talking to IANS on the sidelines of the launch, Khanna said: "It is not possible to stop the smuggling of Chinese watches into India through Bangladesh and Nepal.
"The central government has to provide us relief in terms of tax holidays and reduction of excise duties, if not subsidies, to compete with the Chinese."
There were millions of people in the country who did not own watches but wanted one, Khanna said.
"They cannot afford branded watches which cost more than 1,000. That is why we launched this brand which is waterproof and dustproof and can be worn even by labourers while at work," he said.
"Today all watch repairing shops are making watches. They have fake dials for all international brands but the components are cheap parts smuggled from China," Khanna said.
"Indians are buying such watches without realising that they are being duped, and the government is losing revenue.
"Our Pulse range with 70 designs will compete with these spurious products and offer good and guaranteed watches at competitive prices."
Source: IANS
270 and 400.
Fifty percent of the domestic demand was for watches priced below 1,000, he noted.
K-Watch, which was launched in 1994, caters to the north Indian market.
Talking to IANS on the sidelines of the launch, Khanna said: "It is not possible to stop the smuggling of Chinese watches into India through Bangladesh and Nepal.
"The central government has to provide us relief in terms of tax holidays and reduction of excise duties, if not subsidies, to compete with the Chinese."
There were millions of people in the country who did not own watches but wanted one, Khanna said.
"They cannot afford branded watches which cost more than 1,000. That is why we launched this brand which is waterproof and dustproof and can be worn even by labourers while at work," he said.
"Today all watch repairing shops are making watches. They have fake dials for all international brands but the components are cheap parts smuggled from China," Khanna said.
"Indians are buying such watches without realising that they are being duped, and the government is losing revenue.
"Our Pulse range with 70 designs will compete with these spurious products and offer good and guaranteed watches at competitive prices."
Source: IANS