From 10 PM Call to ₹3.75 Lakh Crore: The Titan Watches Revolution

On a warm March night in 1977, at 10 PM, Xerxes Desai received a phone call that would change Indian horology forever. His associate Anil Manchanda said: "There are five projects that I've shortlisted. The best among them is watches." Ten years later, on July 26, 1984, Titan Watches Limited was officially inaugurated in Chennai. Today, Titan Company is the world's fifth-largest watch manufacturer, commands ₹3.75 lakh crore market cap, generates ₹59,660 crore revenue, and exports to over 30 countries. This is the story of how Tata Group and Tamil Nadu transformed India from watch importers to global manufacturers—one quartz movement at a time.

The Genesis: A 10-Year Journey to Launch (1977-1984)

The business idea of Titan Watches was conceived in the early 1980s. But the actual journey began with that March 1977 phone call to Xerxes Desai, future founder and first Managing Director of Titan Watches. The road would not be easy—it took 10 years after that call for Titan to be launched.

The interim years were spent building a case within the Tata Group for a watch company, shoring up technical knowledge and talent, and navigating bureaucracy in pre-liberalization India. Reflecting on these challenges, Desai wrote in March 1988: "There had been times in the intervening years when we felt weary of the effort needed to find a partner, negotiate a know-how contract."

The breakthrough came through partnership. In June 1984, the idea of venturing into the watch industry was turned to a winning reality. Titan Watches was established as a joint venture between Tata Industries and the Tamil Nadu Industrial Development Corporation (TIDCO)—an iconic journey had begun.

On July 26, 1984, Titan Company Limited was officially inaugurated under the name Titan Watches Limited in Chennai. The partnership was strategic: Tata Group brought industrial expertise, capital, and the reputation of one of India's most trusted business houses. TIDCO brought state government support, infrastructure assistance, and commitment to employment generation in Tamil Nadu.

Currently, TIDCO still owns a 27.8 percent stake in Titan, boosting the revenue of Tamil Nadu and providing jobs. The partnership between TIDCO and Tata Group is believed to have played a vital role in the industrial and economic development of Tamil Nadu.

The Location: Why Hosur? (1984)

Hosur—a sleepy town in Tamil Nadu with a population of barely 20,000—was chosen as the manufacturing location, in part due to its proximity to Bengaluru (just 40 kilometers away), where HMT (Hindustan Machine Tools) was located. This gave access to a talent pool familiar with precision engineering.

An Oxford University alumnus, Xerxes Desai took Jamsetji Tata's philosophy of community growth seriously and set up the first factory in a lesser-known region just like Jamshedpur. When the Tatas came in as TIDCO's joint venture partner, the mandate was clear: create manufacturing jobs in order to ramp up employment.

J.R.D. Tata, along with Xerxes Desai and Jacques Perett from France Ebauches, inaugurated the first Titan Factory in Hosur, Tamil Nadu. The township was designed by renowned architect Charles Correa, further emphasizing the Tata spirit. An outstanding school was constructed at Mathigiri, Tamil Nadu, with enough space for more than 2,000 Titanians, also serving as a teaching resource for schools in surrounding districts.

The Workforce Challenge: Training from Scratch (1984-1987)

The brand was a bust during its initial phase. The failure is attributed to the lack of skilled workers, which unlike foreign watchmakers, Tata lacked. To address this, Titan decided to train Class 10 students and recent pass outs from Namakkal and Krishnagiri, and other districts.

The company informed the state government and school registrars about their plan and asked about their inputs. Then, Titan talked to parents of the candidates. After their consent, they started a training program to train young students the art of making quality watches.

Titan provided food, accommodation, and a monthly remuneration to these student-trainees, and soon created a skilled workforce which could churn out quality watches, paving the way for the company's success. Teams of people scoured schools in small towns and remote villages in Tamil Nadu to persuade young students (17 and above) to take competitive aptitude and attitude tests. For every 100 that applied, three were selected.

Desai's insistence on detailed-to-perfection work also helped the watchmakers work harder and bring the flawless designs to life. The village, which had never heard of the Tatas or even remotely knew how battery-operated watches worked, was now making dazzling watches with varied features like gold plated dials with leather straps, steel and gold straps, and gold plated bracelets.

The First Batch: Building the Core Team (1985)

The first batch of executives that joined Titan in 1985 formed the core team: Anil Manchanda, Hari Rao, M.S. Shantharam, B.G. Dwarakanath, J. Robert from France Ebauches, I.K. Amitha, B.N. Yalamalli, Xerxes Desai, Bhaskar Bhat, and Vibha Rishi.

In 1985, the first set of watch prototypes were reviewed and shortlisted by Xerxes Desai, Anil Gore, and Anil Manchanda. Manufacturing started in 1986.

The Launch and Revolutionary Marketing (1987)

The Titan name was introduced to the public in March 1987. The introduction of electronic quartz watches marked a radical change in the Indian watch industry, and the brand quickly rose to prominence.

The first print advertisement was created by Ogilvy & Mather, showcasing a catalog of beautiful watches. The iconic print advertisement featured a catalogue of beautiful timepieces. Consumers would walk into stores with cuttings from the ad—a testament to the campaign's impact.

In 1987, the company also adopted an early marketing initiative involving a print advertisement that encouraged consumers to bring ad cuttings to stores, showcasing a diverse watch collection and marking a bold debut.

The objective had always been to ensure that every Indian had access to exquisitely designed watches at reasonable prices. In the brand's first cluster of watches, the price range was between Rs 350 and Rs 900—affordable yet premium compared to traditional mechanical watches that required winding.

The Unforgettable Melody: Music That Defined a Brand

Interestingly, Desai's taste in western classical music and Suresh Malik's (former head of O&M) fondness for music gave birth to Titan's unforgettable melody. Malik was also the creator behind "Mile Sur Mera Tumhara."

The musical signature became so iconic that even decades later, Indians instantly recognize the Titan tune. It was one of advertising's most successful audio branding initiatives, creating emotional connection beyond product features.

The First Store and Strategic Expansion (1988-1991)

In 1988, the first company-owned store was launched in Mumbai. The store was inaugurated by J.R.D. Tata in the presence of Xerxes Desai and A.L. Mudaliar, TIDCO chairman.

To create an intangible bond with buyers, Titan used gift-giving as a springboard. Different lines were introduced, such as Classique, Slim, Royale, PSI, Insignia, and Regalia, to meet the preferences of a broader clientele—positioning watches as valuable gifts for special occasions.

The Strategic Partnership: Timex Joint Venture (1992-1998)

In 1992, a joint venture was formed with Timex. Helped by the JV, Timex was next only to Titan in popularity. This partnership allowed Titan to understand American watch manufacturing techniques while Timex gained access to India's growing market. After dissolution of this partnership in 1998, Titan reclaimed the share with the launch of Sonata—a value brand that filled the gap left by Timex.

The Ladies' Revolution: Titan Raga (1992)

Also in 1992, the release of Raga shifted Titan's focus to the female market. The brand launched specially designed ladies watches with Indian motifs and interchangeable fabric straps. Raga paid special attention to women's ethnic fashions. It was later relaunched and is today Titan's most successful sub-brand.

A natural extension was venturing into the TVC (television commercial) space, which led to their first TV ad featuring Mozart and the music range.

Diversification: Beyond Watches (1994-2005)

In 1994, Titan diversified into jewellery with Tanishq—a move that would eventually transform the company. More than 80% of its total revenue now comes from the jewellery segment. By 2022, Titan had become the largest branded jewellery maker in India by value, with a 6% market share.

In 1995, Titan introduced rugged sporty watches with serious features like 200m water resistance and high precision chronographs, targeting adventure and sports enthusiasts.

Subsequently into eyewear with Titan Eyeplus followed. In 2005, Titan launched its youth fashion accessories brand Fastrack, capturing the young demographic with affordable, trendy designs.

International Expansion: Taking India Global (1990s-Present)

Titan entered the European market, followed by the Middle East and Asia Pacific. Titan's watches have now sold over 150 million pieces across 32 countries. Swiss and Japanese manufacturers were shocked by Titan's state-of-the-art production facility, robust and constant market share, and highly skilled and dedicated staff.

The Namma Tamil Nadu Tribute

Later, Titan released its 'Namma Tamil Nadu' watch series to pay homage to the people of the state which had played a vital role in its success. The 'Namma Tamil Nadu' watches had the brand name 'Titan' written in Tamil and symbols of Tamil heritage engraved on them—a touching acknowledgment of the partnership that made everything possible.

Manufacturing Excellence: Five Factories and Counting

Today, 1,600 people work in the manufacturing segment across five factories. Titan made a commitment of generating employment to the Tamil Nadu Government in 1984. After three years of research, conceptualizing designs and rigorous training, the first batchmakers were ready.

The company now operates manufacturing facilities with annual capacity exceeding requirements, implementing cutting-edge technology that rivals global watchmakers. The production opened the door for application to other objects including bracelets, cases, electrical components, and step motors.

The Brand Evolution: From Watches to Lifestyle Empire

In the course of more than 25 years, Titan Watch Project evolved into Titan Watches, then Titan Industries, and finally Titan Company Limited. Every year of production that topped 15 million units also brought new innovations and improvements to the manufacturing process.

Though renowned for its watches, Tata Group's Titan under its sub-brands like Fastrack, Sonata, Octane, Xylus, Helios, Titan Raga, Tanishq, Caratlane, Titan Eye Plus, Skin, and others, sells a wide range of fashion products including premium watches, gold, diamonds, perfumes, smartwatches, sports apparel, etc.

The Financial Powerhouse: Current Status (2024-2025)

As of 2025, Titan Company stands as a financial giant. The market capitalization is ₹3,75,676 crore (approximately $45 billion). In FY 2024, the company generated revenue of ₹59,660 crore (₹596.60 billion) with net profit of ₹4,129 crore.

For FY25, revenue stood at ₹55,355 crore with net profit of ₹3,335 crore. Revenue has grown from ₹21,831 crore in FY21 to ₹55,355 crore in FY25—a remarkable 26.2% CAGR over five years.

However, jewellery now dominates: 85% of revenue comes from jewellery (Tanishq, Mia, Zoya, Caratlane) with only a fraction from watches. The watches and wearables division aims for a robust top line of ₹10,000 crore within two years by introducing 10 new international watch brands and expanding the Helios store network.

As of 2019, Titan is the fifth-largest watch manufacturer in the world—an extraordinary achievement for a brand that didn't exist 41 years ago.

The Tourbillon: India Enters Haute Horlogerie (2024)

Over the last four decades, Titan has become synonymous with precision, craftsmanship, and innovation, introducing a diverse range of collections that cater to every taste and occasion. From the slimmest quartz watches to complex mechanical marvels, Titan has continuously pushed the boundaries of design and engineering.

The launch of its first tourbillon marks a new chapter for Titan—a symbol of its evolution into the realm of haute horlogerie. This new movement represents India's arrival in the world of ultra-premium watchmaking, competing with Swiss luxury brands.

Why Titan Succeeded: The Formula

Visionary Leadership: Xerxes Desai's 10-year persistence from concept to launch demonstrated commitment beyond typical business timelines.

Strategic Partnership: Tata Group's reputation + TIDCO's government support created perfect foundation for manufacturing venture.

Location Intelligence: Choosing Hosur provided proximity to Bengaluru's engineering talent while fulfilling employment generation mandate.

Workforce Development: Training students from scratch rather than hiring expensive experienced workers created loyal, skilled workforce.

Quality Obsession: Desai's insistence on perfection established quality standards from day one.

Revolutionary Pricing: Rs 350-900 made quality quartz watches accessible to middle-class Indians for the first time.

Marketing Brilliance: Ogilvy's campaigns + unforgettable musical signature created emotional brand identity.

Diversification: Expanding into jewellery (Tanishq), eyewear, accessories provided revenue stability beyond watches.

Continuous Innovation: From mechanical to quartz to smartwatches to tourbillons—never stopped evolving.

Cultural Connection: Namma Tamil Nadu series and respect for local communities built deep loyalty.

The Legacy: 41 Years of Precision

From a 10 PM phone call in 1977 to ₹3.75 lakh crore market cap in 2025, Titan's journey embodies the best of Indian manufacturing excellence. The brand that revolutionized Indian horology by bringing affordable quartz watches to millions has evolved into a diversified lifestyle conglomerate.

But at its core remains the watch—the product that started everything. Every Titan timepiece carries 41 years of heritage: the craftsmanship of Tamil Nadu workers trained from Class 10, the precision demanded by Xerxes Desai, the musical signature that triggers nostalgia, and the Tata commitment to quality and employment generation.

Titan proved that India could manufacture world-class products, compete with Swiss and Japanese giants, build global brands, and transform entire industries. The company that started by recruiting teenagers from Tamil Nadu villages is now the world's fifth-largest watch manufacturer.

Every time someone checks a Titan watch—whether a ₹2,000 Sonata or a premium Raga or a tourbillon—they're experiencing the culmination of JRD Tata's vision, Xerxes Desai's persistence, TIDCO's partnership, Tamil Nadu's skilled workers, and 41 years of relentless innovation.

From 10 PM call to 150 million watches sold across 32 countries. From Hosur village to world's fifth-largest manufacturer. From ₹350 timepieces to haute horlogerie tourbillons. That's not just a business success story—that's Titan: India's timeless triumph.