Casio to start local manufacturing of watches in India by the end of 2023Leading Japanese consumer electronics maker Casio would start local manufacturing of watches by the end of this year in India, which is a priority market for the company, a top company official said on Wednesday. The company is working with a local partner here, where quality evaluation is going on and expects to launch its first Made-in-India range of watches by the end of this year, said Casio India, Managing Director Hideki Imai.Read more at:"We expect this to happen before the end of this year," Imai told PTI.Casio is encouraged by its sales in India in the last financial year that ended on March 31, 2023, recording a high double-digit growth in revenue numbers and the highest operating profit."We are prioritising the Indian market, which has the highest growth potential. India has the highest number of youth, below 35 years and we have recognised that fact. We are optimistic about growing the business here in India," said Imai adding the parent company expects the India unit to deliver the highest growth in the next five years.Though Casio India did not share its revenue figures, the company aims for two-fold growth in India sales this year.Though Casio India did not share its revenue figures, the company aims for two-fold growth in India sales this year.When asked about the growth, Imai said: "We are trying to have 3X growth by 2025 over the pre-COVID year sales number of 2019, when we had achieved the highest numbers.".Though Casio India has not shared its revenue figures but said it has a target to grow two folds in sales this year.Casio is present in the watch market with brands such as G-Shock, Vintage Collection, Edifice and Enticer ranging from Rs 1,500 to around Rs 3 lakh.According to Imai, G-Shock, which is designed for usage in harsh environments and is popular among sports and outdoor enthusiasts, is currently the highest-selling watch in India.Read more at:https://economictimes.indiatimes.com/industry/cons-products/electronics/casio-to-start-local-manufacturing-of-watches-in-india-by-the-end-of-2023/articleshow/103817341.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst (ICE MUMBAI)

Fonte notizia: Economic Times