HMT started Indian watch industry in the year 1960 by the initiative taken by the government of India. In 1961 HMT started factory for manufacturing mechanical watches in Bangalore in technical collaboration with Japan. It was the first watch industry in India. From then on, HMT dominated Indian watch industry for the next two and a half decades. HMT brand became synonymous with watches in the industry. The tag line of HMT was ‘TIMEKEEPERS TO THE NATION’. The company were more concentrated for producing sturdy watches, which were good quality and highly reliable. HMT set up a second watch manufacturing unit in Bangalore in the year 1972.In the same year only HMT started another unit in Srinagar. In the year 1977all the share s of the HMT was issued to the government. In the year 1979 HMT started fourth unit in Tumkur was an industrially backward area at that time. Government encourage small scale units and increasing employment in these, sectors.HMT set up fourteen ancillary units all across the country. These ancillary units were set up primarily to assemble watches from the components manufactured by the company. Until 1980 HMT manufactured only mechanical watches. The company launched its quarts range in 1981.
In the year1979 the company undertook to expand the capacity of factory to four lakh watches and five lakh watches in 1980 .Over the next three year decades HMT produced over 80 million watches.
In the year 1990 HMT as certified by ISO 9001.In the year 1999 HMT was fully owned subsidiary. It had started by producing just over 14,000 watches in 196162. The diversity in the company’s portfolio also stemmed from the fact that that the government of India influenced by the company’s outstanding performance. Pandit Jawaharlal had called the HMT ‘jewel’ among the public sector
SWOT ANALYSIS OF HMT STRENGTH GOOD BRAND IMAGE MARKET LEADERSHIP DUE TO HIGH QUALITY AND LOW PRICE AND RELIABILITY GOOD LIQUIDITY;LIQUIDITY POSITION...