The History of The Indian Watch Market

Curious about the history of watches in India, I stumbled upon an article by watch expert Osvaldo Patrizzi. Mr. Patrizzi is a celebrated name in the world of watch collecting and auctions. He was the first to introduce wristwatches to auctions in 1980s through his auction house Antiquorum. He travelled to India to document the history of the Indian watch market. Curious to learn more, I set up a call with him. Here's some of what I learned.

1500s -1800s: Small Scale Pocket Watch Trade Via Middle East

While the trade of European watches in India may have began as early as the 1500s and 1600s with Portuguese and French colonies, there are very few watches found from that time period. Most of the watches found in India before the 1800s were likely produced in Constantinople and imported by Indian and Arab traders

1858-1890: British Pocket Watch Period

The first well documented period with regards to the watch trade in India is the mid 19th century during which British watchmakers dominated. Complications like repetition, moon phases, clock-watch and calendar were desired

Marcks & Co. began retailing watches to Indian royalty around this time. Case maker Richard Macair has a great reputation and produced solid and heavy cases that were richly decorated. The most expensive cases were decorated with a coat of arms, motto or phrase in blue enamel. Some had portraits of Queen Victoria and others had decorations pertaining to merit in recognition of services to the British Empire. The British period can be recognized through its case decorations which were only moderately set with gems to convey preciousness but without ostentation.

1890-1947: Swiss Pocket Watch Period

In the 1890s, Swiss artists started to gain popularity in India for their ornate captivating watches. Swiss watches were also less expensive than British watches. Due to the popularity of Swiss watches and the lack of after sale service outside of England, British Horology in India went into decline

Among the patrons of Swiss watches were:

Maharaja of Patiala
Maharaja of Mysore
Maharaja of Orchha
Maharaja of Nawanagar
Maharaja Bahadur Khanji
Maharaja Rajendra Singh
Nizam of Hyderabad

Prominent Watchmakers include Ferrero in Geneva and Barbezat Bole in Le Locle. Marcks & Co. was the most important retailer of complicated Swiss watches in India. Not many people know this, but much of the demand for luxury watchmaking came from the east. As written by Mr. Patrizzi, “I am deeply convinced that the commercial success which created, stimulated and sustained the great works made in Switzerland, by Swiss artists of undeniable horological talents, is greatly due to the demand that came from such markets as China and India.”

1920s The Advent of the Wristwatch

Russia and India were among the first markets to adopt wristwatches with great successes. In the 1920s, Inda saw a slow decrease in demand for complex beautiful pocketwatches, and many great makers of complicated pocketwatches went out of business. The 1920s was as big a shock to the Swiss watchmaking industry as the Quartz crisis in the 1970s. Companies that did not adapt from pocket watches to wristwatches disappeared.

Popular Brands in India in the early 20th century include:

- Rolex
- Omega
- West End
- Longines

In 1931, Jaeger-Le Coultre invented the Reverso watch for Indian Army officers to protect the wristwatch while playing Polo.

1947: Post Independence Era

1963 First HMT (Hindustan Machine Tools) watch launched by Prime Minister Jawaharlal Nehru
1972-1985 HMT set up manufacturing in Bangalore Srinagar Tumkur and Ranibaug
1984 Titan begins operations. It is now the fifth largest integrated own brand watch manufacturer in the world
2014 Most HMT factories shut down
2020s- Modern Microbrands like Bangalore Watch Company, Ajwain, Jaipur Watch Company, Delhi Watch Company, Argos
2022- Arjun +Bhavish decide to revive historical Indian luxury pocket watch brand Marcks & Co.
2025 Marcks & Co. Launches its inaugural collection