In 1960 Citizen made an agreement with the Indian government, and after training and setting up operations, a year or so later the Hindustan Machine Tools Ltd began production. Using the 02 ‘Homer’ movement this enterprise has survived over the decades, and they are still sold today! I thank Swaminathan Panchapagesan for his comment, which helped me understand this remarkable history. He posted a link to the WUS forum where many models can be seen: http://forums.watchuseek.com/f71/my-hmt-watches-380228-76.html

I had to get an example for my collection – I believe the ones marked ‘Citizen’ are the older ones, but I’m really not sure how old this one is – maybe from 1970:

The 17j movement is very familiar, with plainer finishing and now signed ‘HMT’ of course:

Hopefully Swaminathan will see this and come back with more info 🙂