The Group, manufacturing some of the leading brands in watches like Omega, Rado, Tissot and Endura, has already diversified into microelectronics, telecom and services like real estate. It is now busy developing the prototypes of the compact car at its design studios.

In a videoconference from Switzerland with students and staff of Indian Institute of Management in Ahmedabad (IIM-A) on Monday, he said, ``I'm keen to come to your country to set up a facility in Indian to make watch components-can come next week-if somebody could open your doors.''

``We already have 42 factories in Switzerland as well as America, elsewhere in Europe, Thailand,Malaysia and China, which provide jobs to thousands of people. India is a big country. Indians think in a big way and have innovative ideas.''

When asked as to why the Group cannot make watches at a lower cost-and may be of less accuracy-for people of a poor country like India, Hayek said, ``We do make cheaper and yet accurate watches but can't sell them in India because of the restrictions (watches priced below Rs 35,000 could not be imported in India).'' He wished he could show such watches on videoconferencing. He did show one Internet watch, showing Internet as well as Standard Times timings of all over the world.