With a population of 1.2 billion, India is Asia's third biggest economy yet accounts for just 2% of the global luxury market. At a lunch in conjunction with the Fondation de la Haute Horlogerie, the Financial Times' South Asia Bureau Chief spoke about the prospects for a country yet to reach its full potential.

After the inauguration of its first store in Hong Kong last December, Corum has cut the ribbon in Geneva, prior to openings in Shanghai and Beijing. The project to extend the brand's site, put on hold in 2009, is also taking shape. CEO Antonio Calce talks about recent developments.

In its recently published survey, based on interviews with Chinese consumers, the KPMG audit network highlights the huge potential for reward for luxury companies investing in China.

In the second quarter 2010, China eclipsed Japan as the second largest economy in the world and, given the gap in the two countries' growth, is expected to confirm its position for the full year. Despite this, China plays it low-key and acknowledges it is still a developing nation.

China first fell in love with mechanical timepieces in the late 1500s, when Jesuits presented the first clocks to the Imperial Court. Centuries later, this love affair is still going strong and has positioned China top of the league for Swiss watch exports.