SIKKIM TIME CORPORATION

                The Sikkim Time Corporation was established during 1976 with assembly of Mechanical watches for HMT. The company has expanded and diversified its business into manufacture of mechanical watch crown, semiconductors and manufacture of digital & analog watches over the years. Its products with brand name "SITCO" has very good market demand for its watches. As of now the company has employed 318 employees in the factory.
                  Apart from its usual business of watch making SITCO has reached another milestone with the foundation stone laying of its Speaker Manufacture Project by the chief Minister of Sikkim, Mr.Pawan Chamling on the 13th Dec. 2000. The Speaker Manufacturing Project is being implemented in technical collaboration with M/s BPL, Bangalore, who is one of the most recognised and leading consumer durable brands in India. The outline of th eproject is as below :-

• The product of manufacture will be Speaker for both B/W and colour TVs.

• The unit will manufacture 10,000 speakers per day (30 lakhs per year) at full capacity.

• BPL will provide the technical know-how and assist in setting up the plant and also in trainign the  manpower of SITCO.

• BPL will buy back the products and will also help SITCO to locate other markets. SITCO also has the option to directly sell the product to other customers.

• The project cost ( excluding working capital) is Rs.300.00 lakhs and the annual sales realisation (at full capacity) will be Rs.516.00 lakhs.

• The unit will give employment to 92 people at full working capacity.

• The technology to be used will be provided by BPL, who in turn have adopted form their collaborator SANYA, Japan.

• BPL will also. assist in identifying the sources for plant & machinery, and raw materials.

                    Speaker manufacture, being a labour intensive one is ideally suited for a place like Sikkim. The market demand for product was 27 million in 1995 (DOE survey) and is estimated to be over 35 million today with a high growth rate. With the boom in the telecommunications and consumer durable products like TVs & audio systems, it is projected to grow further.
               

The total sales turnover of the Corporation during 1997-98 was Rs.16,7,04,326 for the following products whose total production figures are also mentioned against each item :

Watches                     -        3,63,26,175 Nos.
Watch Crowns         -            25,70,443 Nos.
Semi Conductors      -            44,19,160 Nos.
HMT Watches           -            34,76,737 Nos.

Some of the products of SITCO are as follows :

           For further details please contact :

           Shri. Gyurmie Yousal,
           Managing Director,
           SITCO,
           East Sikkim.
           Ph - 03592 - 281771/280553