In an effort to enter the Indian market, the watch company Swatch suggests using diamonds cut in India at their watch factories in Switzerland, ET newspaper reports.
Swatch plans to invest $ 10 million in the next decade and in the first five years to open more than 30 retail stores in India.
Indian law requires foreign monobrand companies to make at least 30% of raw material purchases in India. In addition to the "mele" diamonds, Swatch intends to buy in India a full range of materials for its products, including fittings.
It is very interesting that the Swatch proposal was made public at a time when the Indian Department of Industrial Policy started preparatory procedures to cancel this restriction, as many companies interested in setting up retail stores in the country called this condition the main obstacle.