Summary:

Deloitte's 2024 research highlights India's rising attractiveness to Swiss watchmakers. Favorable trade conditions and increased consumer interest make India a lucrative market for luxury brands. This opportunity is driven by the taste for fashion and luxury among Gen Z and millennials, particularly in watches. The Trade and Economic Partnership Agreement (TEPA) has improved consumer sentiment and potential for Swiss exports, with watchmakers benefiting from lower customs duties for the next seven years. Mr. Pascal O Ravessaoud, Vice President of FHH, emphasized the importance of leveraging the Swiss-India Free Trade Agreement to access India's market, which is predicted to grow from $7 billion to $30 billion by 2030.

Source: IBEF 

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