The once popular watch-maker Hindustan Machine Tools (HMT) has announced plans to restart its operations at its factory premises in Ranibagh near Haldwani.
There was atime when an HMT-manufactured watch was not just a watch, but also a sign by which India was identified. An HMT watch at one time was seen as part of India’s heritage, and there was time when HMT was regarded as the “timekeeper of the nation”, and there was also a time when parents gifted their children with HMT watches after they had successfully passed their Tenth Class Board Examinations.
Last year, the management of HMT had to announce a lockout after years of economic loss. The Ranibagh factorly unit has announced plans to spend around one-and-half crore rupees to manufacture watches.
The factory at Ranibagh has time till March 2016 to complete this order. Thereafter, it will be closed and converted into an ordinance unit.
One time employees of HMT said that they were happy with this development.