Hyderabad: To save money on import duties and avoid financial scrutiny, a section of ultra-rich buyers is allegedly turning to organised smuggling networks to source high-end luxury watches, with carriers being used to bring expensive timepieces into the country through international airports, including Rajiv Gandhi International Airport (RGIA), Hyderabad.
High-end watches from globally renowned brands such as Jacob & Co, Patek Philippe, Richard Mille, Audemars Piguet and Rolex are reportedly being brought into India through carriers, commonly known as mules. These carriers are allegedly paid commissions ranging from Rs 30,000 to Rs 50,000, along with flight expenses, to transport watches by wearing them on their wrists or concealing them in their baggage to evade Customs detection.
Hyderabad Airport tightens security measures
At RGIA, Hyderabad, authorities have intensified checks on passengers carrying high-value luxury items. In April 2026, Customs and airport authorities examined two passengers carrying around 30 Rolex watches valued at approximately Rs 18 crore. The watches were intercepted for verification of documents, source of purchase, and compliance with Customs regulations. The passengers were reportedly allowed to proceed after scrutiny, when the authorities found that the required documentation was in order.
Luxury watches sold from Rs 1 cr to 15 cr or higher
The cost of luxury watches varies widely, with several models priced between Rs 1 crore and Rs 15 crore, while rare, limited-edition and diamond-studded pieces command significantly higher prices in the collectors’ market. Sources said some dealers and intermediaries have developed overseas networks to procure such watches and supply them to wealthy clients in India.
“Some luxury watch dealers and agents have developed channels to source these expensive timepieces from countries such as the United Arab Emirates (UAE) and Singapore. Individuals with large unaccounted funds are approaching such networks to acquire watches without creating a conventional financial trail,” said a source aware of the developments.
Investigators believe high import duties, limited availability of exclusive models and increasing demand among wealthy buyers have contributed to the growth of a grey market. Officials said the portability and high value of luxury watches make them attractive for those seeking to conceal unaccounted wealth.
Payments likely through hawala networks, cryptocurrency transactions
Payments for such purchases are suspected to be routed through informal channels, including hawala networks and, in some cases, cryptocurrency transactions. After receiving orders, local dealers reportedly contact overseas suppliers, particularly in Dubai and Singapore, with carriers transporting the watches into the city. The original boxes, warranty cards and documents are often sent separately to reduce the risk of detection.
