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India-EFTA TEPA entered force in 2024. A Rajkot-based precision machined parts manufacturer identified that Swiss watch movement component manufacturers in the Jura region of Switzerland had been sourcing from German and Czech suppliers at 3.7% EU MFN duty equivalent. Under TEPA, Indian components now entered Switzerland at 0%. The Indian manufacturer had not previously targeted Switzerland but saw the opportunity.
AJG identified target buyers through the Swiss Watchmakers Federation (FH) database and Geneva watch industry contacts. The Indian manufacturer' precision machining capabilities (±5 micron tolerance) were verified against Swiss watch component specifications. IATF 16949 was not required for watch components but ISO 9001 and Swiss standard Norm SN EN 29001 compliance were expected. A Geneva-based precision component sourcing agent was engaged. Technical samples were submitted to 3 Swiss watch component buyers.
Technical sample approval from 2 of 3 Swiss buyers at month 6. First commercial order (CHF 380,000 for movement blank plates) at month 8. Annual Switzerland revenue: CHF 1.2M year 1, CHF 2.8M year 2. 0% TEPA duty versus 3.7% MFN provides approximately CHF 100,000 annual cost advantage versus German/Czech competitors.
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