The luxury boom in India should bolster Swiss watchmaking

India's rapidly expanding luxury goods market could benefit Swiss watchmakers, especially now that the two countries have signed a free trade agreement, according to a Deloitte study published on Monday. The Indian luxury goods market is currently valued at $7 billion (CHF6.2 billion) and could reach "close to $30 billion by 2030", according to the auditing and consulting firm's projections, opening up prospects for "lucrative geographic expansion" for Swiss watchmakers, the study claims. News today from Switzerland: get the most important news from Switzerland in your inbox. In October, the firm, which publishes an annual report on the Swiss watchmaking industry, had identified India as a high-potential market for Swiss watchmakers. But in the meantime, the countries of the European Free Trade Association (EFTA), of which Switzerland is a member, signed a free trade agreement in March, after 16 years of negotiations, prompting Deloitte's Swiss branch to take a closer look at this ...