Timex is considering making India a global sourcing base to reduce manufacturing costs, a senior executive said. Currently, Timex has its global manufacturing hubs in Hong Kong, China and Japan. “A high-level team is working on a project to identify what all can be imported from India and what will be the cost benefit,” said V.D. Wadhwa, managing director, Timex Group India told the Daily Mint.
For Middlebury, CT based Timex, which operates across 100 countries, India is the only geography where it has a design center and a manufacturing base catering to the local market. Wadhwa said it is important to manufacture in India and meet part of the global requirement with the appreciation of dollar and higher wage costs. Manufacturing in China is no longer cost-effective.
What this means
For supply chain executives, who wish to diversify beyond China, India is becoming increasingly interesting.