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Monday, 23rd May 2005 (5756 views)

Indian consumers are increasingly using watches as a sign of status, rather than simply to tell the time.<br/><br/>Watches are now offering more than just the time with multi-settings, gold and diamond features and alarms all included, according to New Ind Press.<br/><br/>Hi-tech gadgetry and ornate jewellery-like designs are proving popular with the wristwatch market now worth close to 50 million pieces a year and Rs 1,500 crore in the country.<br/><br/>Key companies behind the boom are Tata group company Titan and several Indian and foreign brands such as HMT.<br/><br/>A typical example of the luxury appeal of the timepieces is the Swatch group company Rado, which has created the gold and diamond Diastar, priced at Rs 32 lakh.<br/><br/>Sanjay Hans of Lalchand Jewellers, sole distributor of Swatch group brands in Orissa, said: "Selling luxury watches makes a lot of sense, particularly for jewellers."<br/><br/>He explained the more expensive the watch is the more likely it is to be used as a piece of jewellery and used to add credibility.<img alt="track" src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=8570637"/>

 

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