According to a recent report by the management consulting group A. T. Kearney, the Indian luxury watch market is currently worth around USD $ 327.0 million, whilst the market size for luxury goods and services is pegged at USD $ 4.2 billion. India’s new organized retail segment—malls, hypermarkets, large shopping complexes alone are expected to be worth USD $ 200.0 billion by 2016.
The country’s economy is growing at a brisk rate of 8.0 % and in 2006, there were about 1.6 million households earning USD $ 100,000 or more a year and spending about USD $ 9,000 annually on luxury, a group that is expected to grow 14.0 % annually.
About 6.0 million Indian nationals live in the GCC, accounting for as much as 50.0 % of the expatriate workforce in some GCC states.