Bangalore: End of an era - Time nears for HMT Watches to stop 'ticking'


Daijiworld Media Network – Bangalore (SP)

Bangalore, Sep 12: HMT Watches Ltd with its head office in the city, which has been in existence since the last 53 years, and had once upon a time, been considered synonymous with accurate time in India, is all set to wind up its operations soon. At the same time, its arm, 'HMT Chinar Watches Ltd', which used to produce premier watches, is also being shut down.

With this, HMT, which had emerged as a proud brand from India, will stop ticking within a few weeks from now. The company has four units including the city and Tumkur. HMT Chinar Ltd has two units isn Jammu and Srinagar.

The central government has decided to shut down HMT Watches, a division of HMT Ltd, as it has been consistently operating under loss since the year 2000, and facing an economic crisis under which it is finding it difficult even to disburse salary to employees. As reported by an English daily, Board for Reconstruction of Public Sector Enterprises has already recommended for the closure of these two companies, and the boards of directors of these companies have approved this decision.

HMT Watches had started to function in 1961 in association with Citizen Watch Company, Japan. In the recent past, losses of the company have been steadily raising, and the central government had to lend Rs 694.52 crore by March 2012 end to the company to tide over financial crisis. As on March 31, 2013, the company had a workforce of 1,015.

  

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  • narayanan, hyderabad

    Sun, Jan 10 2016

    You are tellig make in india slogan, but the same time you are closig indian Public sector units like hmt.why cant you make latest watches like other imported from japn. you want to close all the indian factories.

    DisAgree [1] Agree Reply Report Abuse

  • jesse, mangalore/ireland

    Sat, Sep 13 2014

    India manufacturing things, but not quality for example you travel in TATA bus and VOLVo, feel the difference. In the same way travel in ambassador and ford or Chevrolet or any Japanese cars, certainly there is difference. I have a casio watch I bought it in Kuwait 5years ago still working with great precision no need to adjust time also, I had a hmt watch in india in 1980s every day 1 minute goes slow! most of our Indian companies ruined bcoz of govt.undertaking. privatize it then everything will be alright.

    DisAgree [3] Agree [18] Reply Report Abuse

  • Gibbs, Udupi

    Fri, Sep 12 2014

    Next is Air India's turn. Kasargod express gold seized is not enough to finance so sadly government will have to close down Air India (NB. even recently caught gold came through Jet Airways so Air India has been rejected in all respect)

    DisAgree [1] Agree [7] Reply Report Abuse

  • Sunil D'Souza, Mangalore / Mumbai

    Sat, Sep 13 2014

    Don't even dream of that. Air India will not shut down even if all the companies in India shut door. Wanna know the reason !!. Because if it does the ministers will have to fly on pvt. airlines with valid tickets and no credits and on E class.

    Imagine you find minsters on your next flight to Mumbai? well well that will never happen and Govt. will keep sucking more money from our income tax to keep the fleet of Air India afloat.

    With HMT's closure it doesn't matter to the ministers since they use RADO and ROLEX you see :)

    DisAgree Agree [10] Reply Report Abuse

  • Joe Britto, Nakre/Bangalore

    Fri, Sep 12 2014

    HMT to close is sad indeed.

    I still have my HMT watch gifted to me by by Ex Employer MCF in 1978 and it's still ticking away as accurately as ever.

    Yes the problem might have been with the management or with the staff as they got stuck in their own world and refused to change with changing Times and therefore TIME has indeed stood STILL for HMT.

    DisAgree [1] Agree [16] Reply Report Abuse

  • stan, dubai

    Fri, Sep 12 2014

    HMT watches had a respect like new generations, RADO, Rolex etc. Same way Air India was premier Airline. Now End of an Era for HMT. when will come end of an era for AIR INDIA?

    DisAgree [2] Agree [13] Reply Report Abuse

  • Navin Shetty, Manipal/Bahrain

    Fri, Sep 12 2014

    When I was kid, I used to think HMT watches manufactured by Udupi's HMT bus company.

    DisAgree [5] Agree [24] Reply Report Abuse

  • Jawar D'Souza, M'Lore/Mumbai

    Fri, Sep 12 2014

    They need room to reach the target of 15 lac jobs lot of space is required, now next turn will be of HAL, BHEL,BEL and ITI. Keep up the good work.

    DisAgree [9] Agree [8] Reply Report Abuse

  • ashok shetty, shirva

    Fri, Sep 12 2014

    New generation want new things and taste. The company management should come out of the box thinking they have to change or modify according the demands of people not like same thing before 30 years will not work. Soon Air India is fate will be same .

    DisAgree [1] Agree [16] Reply Report Abuse

  • Matthew, Nitte

    Fri, Sep 12 2014

    The employees of HMT watches are responsible for the demise of this legendary company we all fondly recall. As a teenager, i was gifted a HMT Pilot - a beautiful 38mm mechanical watch which was made for IAF cadets and later sold to general public. After years of use, the watch was is still ticking but i wanted to buy another HMT Pilot. I visited several HMT factory outlets in Bangalore. The attitude of its employees towards the customers is unbelievable. Some refused to answer, others just ignored ! I finally gave up. There is still a cult following for HMT watches, but its employees ruined the company just the way Air India,Indian Airlines,BMEL,BHEL etc have been destroyed internally. HMT along with other PSUs should have long been privatized so its employees can understand what is real hardwork.

    DisAgree [1] Agree [22] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Fri, Sep 12 2014

    We need intelligent people at the CENTER ...

    DisAgree [8] Agree [27] Reply Report Abuse

  • Navin Shetty, Manipal/Bahrain

    Fri, Sep 12 2014

    Rahul Gandhi?

    DisAgree [10] Agree [19] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Fri, Sep 12 2014

    Currently we have Narendra Dhamodardas Modi at the CENTER ...

    DisAgree [6] Agree [20] Reply Report Abuse

  • Sudhir, Mangalore

    Fri, Sep 12 2014

    Is he intelligent?

    DisAgree [2] Agree [7] Report Abuse

  • Anthony Lobo, Mangalore

    Fri, Sep 12 2014

    Modi should hire Naveen Shetty, who can give report on other PSUs. The loss of these companies is may be more than the black money!

    DisAgree [5] Agree [14] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Fri, Sep 12 2014

    Anthony, 100 day promise of black money, inflation and corruption has gone to the ...

    DisAgree [5] Agree [19] Report Abuse

  • joe Gonsalves, Mangalore

    Fri, Sep 12 2014

    In good management people have to make crucial decisions. Here is a good company of repute and HMT watches were known for their quality and service over the past few decades.

    If only the management had reviewed their performance from time to time and taken corrective measures at the right time perhaps the company could survived and the people retained their jobs. Obviously right steps were not taken at the right time and now it is too late to reverse the situation.

    It is sad that this good company has gone through rough tides and is compelled to pull the shutters down.

    Joe Gonsalves

    DisAgree [2] Agree [3] Reply Report Abuse

  • MHUSSAIN, QATAR

    Fri, Sep 12 2014


    Next number is Air India's....., HENRY MISQUITH

    The profit from Airport authority of India to compensate Air India's loss.

    DisAgree [1] Agree [6] Reply Report Abuse

  • Pramod, Kundapura

    Fri, Sep 12 2014

    Next on the hit list is bSNL and MCF

    DisAgree [4] Agree [14] Reply Report Abuse

  • flavian dsouza, chik/banaglore

    Fri, Sep 12 2014

    HMT watches is still good . the problem is selfish employees have joined hands with private players to close this !!!there is enough demand for watches and they can still turnaround the same why not handover it to TITAN or some swiss companies its better then closing

    DisAgree [1] Agree [14] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Fri, Sep 12 2014

    He promised to open new Industries but now they are closing down ...

    DisAgree [15] Agree [26] Reply Report Abuse

  • Nagendra, Mangalore

    Fri, Sep 12 2014

    Buy Indian to nourish Made In India.

    DisAgree [3] Agree [5] Reply Report Abuse

  • Vivian Pinto, Bijai /Calgary

    Sat, Sep 13 2014

    He has plans for this land

    DisAgree [1] Agree [3] Reply Report Abuse

  • Eric, Mangalore

    Fri, Sep 12 2014

    If the central government can not revive a loss making industry which definitely has enough land and infrastructure plus basic machinery at its disposal which are valued at a depreciated book value, is it possible to make India prosper. Something is fishy. Sell that to multinationals and pocket the profit. Can we make in India and make India Prosper.

    DisAgree [7] Agree [7] Reply Report Abuse

  • Proud Hindustani, Hindustan

    Fri, Sep 12 2014

    I still remember, my first watch presented by my father was HMT about 35years back and I still have it. And it is sad to know that the HMT will go to the history

    DisAgree [2] Agree [12] Reply Report Abuse

  • HENRY MISQUITH, Bahrain

    Fri, Sep 12 2014

    Good watch but out dated. RIP HMT!!

    Next number is Air India's.....

    DisAgree [4] Agree [25] Reply Report Abuse

  • Basheer, Mangalore

    Fri, Sep 12 2014

    HMT watches really made 'Dhayee KG ka Hath' because of their weight.

    DisAgree [4] Agree [10] Reply Report Abuse

  • Neil, Mumbai

    Fri, Sep 12 2014

    R.I.P. HMT :-(

    DisAgree [1] Agree [8] Reply Report Abuse

  • Mohan H Naik, Mangaluru

    Fri, Sep 12 2014

    I am sure many sweet memories are associated with HMT watches, especially my generation and older ones.
    Totally disagree with the Government stand. If we are not capable of reviving one such small PSU and continue to dream about emerging a Super Power in coming days, we are out of way. Something is seriously missing.
    How does it fit in to "Make in India" policy, when we least care about "Made in India" ?
    Economist/Policy makers are not part of the decision to shutdown HMT ?

    DisAgree [2] Agree [26] Reply Report Abuse

  • Dinesh Poojary, Kundapura/Bengaluru

    Fri, Sep 12 2014

    Mohan H Naik, Mangaluru

    Very good observation. I agree with you.

    But look, only govt can't do everything, people support is very much required.

    My father still uses HMT watch. He is the only one in our family to use this watch. How many of we youths use HMT watch or Indian make watch? Most of younger generation are attracted towards foreign products. Problem lies with us.

    DisAgree [10] Agree [26] Reply Report Abuse

  • Mohan H Naik, Mangalore

    Fri, Sep 12 2014

    I totally agree with your views.
    I remember, gifting TITAN to my wife from abroad, though I could have gone to other expensive foreign brand.

    DisAgree [1] Agree [13] Reply Report Abuse

  • Dinesh Poojary, Kundapura/Bengaluru

    Fri, Sep 12 2014

    Around 15-20 years back, the person wearing HMT watch had respect.

    DisAgree [7] Agree [26] Reply Report Abuse

  • Well wisher, India

    Fri, Sep 12 2014

    sorry state of PSU's in India.

    DisAgree [1] Agree [15] Reply Report Abuse

  • Af, mangalore

    Fri, Sep 12 2014

    This good company has been raped by bad management.

    DisAgree Agree [31] Reply Report Abuse

  • Sathish Shetty, Mangalore

    Fri, Sep 12 2014

    Bad management contributed from administration and union.

    DisAgree Agree [3] Reply Report Abuse


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