Boomtime for the black market financial mail THE NEXT SUPERPOWER Special Report

From: Mail on Sunday | Date: July 16, 2006 | Copyright information

INDIA'S formal, taxed economy may be thriving but so is its black market, something that poses huge difficulties for legitimate businesses in all sectors.

More than 25 million watches are sold in India each year, but of these, fewer than half are traded legitimately. The rest are made of smuggled components, often forgeries of designer brands, assembled in countless workshops and sold in street stalls or off the backs of bicycles.

Titan Watches, sister company to Tanishq (see ...

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