Titan’s Move to Gulf for U.S. Market Access

, India’s largest jeweller and watchmaker, is exploring shifting part of its manufacturing to the Middle East Gulf region to maintain low-tariff access to the U.S. market amid rising trade tensions. Managing Director C.K. Venkataraman said the move is being considered in light of a proposed 25% U.S. tariff on Indian imports—triggered by India’s trade with Russia. The company recently acquired a majority stake in Dubai-based luxury retailer Damas ($283 million), which operates 146 stores across the GCC. This strategic move could pave the way for production in the Gulf, where tariffs are lower (10%) than those on Indian goods. With growing U.S. retail presence through Tanishq and CaratLane, Titan aims to mitigate tariff risks without compromising quality or craftsmanship—artisanship remains challenging to replicate in higher-cost U.S. manufacturing. While the U.S. is not viable due to cost and skill constraints, the Gulf offers a feasible alternative for tariff arbitrage. If U.S. tariffs remain high, such shifts could become essential for sustaining competitiveness in global markets.