HMT Watches, the iconic brand that evokes nostalgia in most Indians, will be shutting shop soon. It was set up in 1961 in collaboration with Japan’s Citizen Watch. The first batch of HMT watches was released by India’s first Prime Minister Pt. Jawaharlal Nehru.
HMT used to dominate India’s watch market during the 1970s. Such was once its sway that it even had a waiting period, which could run up to 10 months. It was a prize gift, the sort of thing that parents would promise to give their offspring if they did well in board exams. It’s ad punchline portrayed it as “timekeepers to the nation” and nobody suggested that was hype. In fact, it claims many firsts to its credit — the automatic day-date watch to the first Braille and quartz watches.
I was also a proud owner of a HMT watch. I was gifted a HMT watch — Ajeet — before my secondary school examination by my father in 1978. I had that watch with me until I got a job in 1985. I just checked flipcart and found 133 HMT watches are there on their list. I immediately ordered one for me, one of the last HMT watches.
HMT Watches was outperformed by another Indian company — Titan — a Tata group company, when they introduced various models of quartz watches at quite reasonable price in mid-1980s.
The government has decided to wind up the company, a wholly owned subsidiary of HMT Ltd, which has been incurring losses since 2000 and has been unable to generate adequate resources to pay salaries to its employees. A sad reality for not aligning with the change in customer preferences, and unable to sustain the competition.