Casio, a leading Japanese consumer electronics manufacturer, said on Sept 20 that it would begin local watch manufacturing in India, a priority market for the company, by the end of this year. According to Casio India Managing Director Hideki Imai, the company is working with a local partner here, where quality evaluation is taking place, and expects to launch its first Made-in-India range of watches by the end of this year.

"We expect this to happen before the end of the year," Imai said to PTI.

Casio is encouraged by its sales in India in the most recent fiscal year, which ended on March 31, 2023, with a high double-digit increase in revenue and the highest operating profit.

"We are prioritizing 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.

Casio India did not disclose revenue figures, but the company expects to double its sales in India this year.

When asked about the expansion, Imai stated, "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."

Casio India has not disclosed its revenue figures but has stated that it expects to double its sales this year.