Industry Odisha Bureau, Oct 22: Swiss watch exports to India rose 28.5% in nine months, outpacing China and the US. Franck Muller is betting on cultural collections and plans branded residences in India.
India could become the seventh or eighth largest market for Swiss watch exports in 2027. It currently ranks 14th, Franck Muller executive Erol Baliyan told The Economic Times. Such a move would lift India six or seven places in the global ranking. It is his expectation rather than an official industry projection.
Baliyan is chief executive for the Middle East, Africa and India at the Swiss brand. “India is the rising star in the watch industry,” he said. He pointed to India’s strong growth while several established markets struggle.
Swiss watch exports to India rose 28.5% between January and September 2026. Their value reached 265 million Swiss francs over the nine months. These figures cover the wider Swiss watch trade, not Franck Muller’s own sales.
The picture was weaker in two of the industry’s largest markets. Exports to China fell 5.9% over the same period. Shipments to the United States declined 4.1%. India’s growth stands out against that backdrop of softer demand.
Franck Muller has built its India strategy on culture, tradition and religion, Baliyan said. Its Men in Blue collection was aimed at sports fans. A limited edition, created with Kapoor Watch Co., marked India’s 75th Independence Day. Its newest timepiece, which Baliyan called very emotional, has a religious theme.
Such collections aim to connect a global brand with local cultural themes. Their direct effect on the wider export growth is unclear.
The company also plans to enter Indian property through branded residences. Baliyan said its first real estate project in India would be announced within a month. Franck Muller works with developers to create ultra-luxury homes carrying its name. The location, partner and size of the Indian project have not been disclosed.
Branded residences let luxury labels extend their identity beyond core products. Developers handle construction, while the brand contributes its name.
The push into India also reflects a shift in the Middle East. Baliyan said fewer tourists and weaker sales there led the brand to refocus. With fewer European and Indian visitors in the region, it is targeting their home markets. Franck Muller remains invested there for the long term and still eyes expansion, he said.
France is another market drawing more attention. Swiss watch exports to France grew nearly 80% between January and September. That figure, too, reflects the overall trade rather than Franck Muller’s sales.
On China, Baliyan acknowledged a slowdown but said its impact was uneven. Brands and sectors heavily exposed to China, such as carmakers, were hit hardest, he argued. In his view, watchmakers have been less affected. He named Singapore and Japan as strong Asian markets for Franck Muller.
Taken together, the figures show India gaining weight in the Swiss watch trade. For Franck Muller, India is central to a wider shift in regional focus. Whether India reaches the top eight in 2027 will depend on demand holding up.
