New Delhi, March 5 -- A new wave of affluent buyers in their twenties and early thirties is driving growth in India's luxury watch market, forcing global brands to reposition for a more aspirational consumer.

The shift comes at a time when rising disposable incomes, a swelling base of high-net-worth individuals and easing import duties under India's trade pact with the European Union are reshaping the premium timepiece landscape. Lower tariffs on Swiss watches are expected to narrow price gaps, intensify competition and accelerate premiumisation in a market that executives say is expanding rapidly.

The luxury watch market is poised for strong expansion, with annual growth estimated at 11-12%, supported by the country's rising affluent b...