One of the oldest Indian watch manufacturers, HMT is officially shutting down in 2026. According to reports, HMT Ltd has filed an application with the Ministry of Corporate Affairs (MCA) seeking to strike off its wholly owned subsidiary, HMT Watches Ltd. The application, submitted on January 5, 2026, was disclosed in a filing to the stock exchanges on Thursday. It has been made under Section 248 of the Companies Act, 2013, and requests the removal of the subsidiary’s name from the records of the Registrar of Companies (RoC).
Back in 2016, the Government of India officially closed the HMT watch-making division after decades of mounting losses up to Rs 2500 crores, according to a CNBC report. However, even after that the company continued assembling and selling a limited range of mechanical and quartz watches using existing component stocks and parts from vendors—through its official website— this will cease after this latest application. Currently, HMT Heritage Centre & Museum stands in Bengaluru where people can go and view the brand’s legacy and its important place in the watchmaking landscape of the country; at the adjoining shop, one can even buy new HMT watches. HMT’s last functional watch manufacturing plant, located in Tumakuru (Tumkur), Karnataka, officially shut down on May 1, 2016, following a decision by the Cabinet Committee on Economic Affairs (CCEA) in January 2016 to shut down the subsidiary.
Can we still buy HMT watches from the official website?
The answer is no. Under Section 248 of the Companies Act, 2013, a company applying for strike-off must have already ceased all commercial operations. Once the process begins, a company is legally barred from engaging in any activity except those necessary to conclude its affairs, satisfy statutory requirements, or realize outstanding dues. Any remaining assets, including inventory, are typically liquidated to settle outstanding liabilities before the final strike-off. However, there is a thriving market for vintage HMTs in India that is supported via collector groups and Facebook Marketplace.
HMTs run
HMT (Hindustan Machine Tools) watches, famously known as the "Timekeepers to the Nation," began their journey in 1961 through a collaboration with Japan’s Citizen Watch Co., establishing India's first indigenous wristwatch manufacturing unit in Bangalore. Formally launched by Prime Minister Jawaharlal Nehru with the robust, hand-wound Janata model, the brand quickly became a symbol of national pride and industrial self-reliance. Throughout the 1970s and 1980s, HMT dominated the Indian market with a nearly 90% share, producing iconic models like the Pilot, Kohinoor, Janata, and Sona, while achieving vertical integration by manufacturing almost all components in-house. However, the late 20th-century ‘quartz revolution’ and the entry of private competitors like Titan in 1987 challenged HMT's dominance. Struggling with slow adaptation to new technology and significant financial losses, the government shuttered HMT's large-scale manufacturing plants in 2016.
Despite this, after 65 years of peaks and troughs, HMT retains a cult following among collectors, which received a boost after the announcement of the closure in 2016. Today, hunting for a vintage HMT in India is rather easy and reliable as the company has sold over 100 million watches till date, and they exist all over the nation, some in your parents' watchbox and some on dusty stalls in vintage markets.
Images: Courtesy Brand
Vintage ads are sourced from classicindianads.blogspot.com
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Showcasing the glorious history of HMT watches
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