All India Federation of Horological Industries announces agenda and new office bearers
The All India Federation of Horological Industries (AIFHI) today announced that it would pursue a focused agenda of ensuring a vibrant, legal and rapidly growing watch market in India.
AIFHI is the watch industry’s apex organisation in the country, comprising of leading watch manufacturers and marketers, including Titan, Timex, Maxima, Swatch, HMT, Citizen, Casio and LVMH. It identifies key opportunities and issues for the industry, and ensures that these are appropriately addressed at all quarters.
AIFHI also announced its new office bearers, for the year 2006-07. Harish Bhat, chief operating officer of Titan Industries, will take charge as president of the federation. V D Wadhwa, senior vice president, Times Watches, will take charge as vice president and secretary general. A management committee consisting of five members – Mr Bhat from Titan, Mr Wadhwa from Timex, Mr G Kannan from the Swatch group, Mr Manjot Purewal from Maxima and Mr Y Saboo from Kamla Dials — has also been appointed.
Harish Bhat, newly appointed as president of AIFHI, said – "The watch industry in India represents an important functional product and an exciting lifestyle category. Over 200 million Indians wear watches today and the opportunity for growth is huge. In addition, the industry provides livelihood to several thousand households – including employees of watch companies, dealers across the length and breadth of India. AIFHI will pursue an ambitious agenda, of ensuring that there is a watch on every wrist, that every Indian wears his or her watch with pride. We are also committed to ensuring strictly ethical and legal norms in this important industry."
V D Wadhwa, vice president, added – "AIFHI consists of members both with Indian and with global roots. We will partner the Government and apex industry associations in ensuring that we put in place a robust framework for this industry. Apart from ensuring rapid category growth, our federation will also take on the challenge of the unorganised sector which is rampant with illegally imported, contraband and fake watches."
With AIFHI stepping up its focus, the watch industry is bound to see significant action ahead.