Bosch, the leading multinational engineering and electronics company headquartered in Germany has announced its plans to invest €100 million (around Rs 800 crore) over the next 3-4 years in the Indian market.
The company said that the localized offerings include the top-loader washing machine, freestanding microwave oven, and mixer grinder.
“Bosch Home Appliances will invest 100 million euros over the next 3-4 years towards personalising solutions, brand building, strengthening its technology centre, and setting up a robust refrigerator factory to bring its best-in-class German technology in India and magnifying India’s role globally,” the company said in a statement.
According to Bosch, India’s household appliances market is expected to grow 14.5 percent annually from 2018-2022, resulting in a market volume of USD 2,028 million.
“Our business is in the process of profound transformation from a hardware focus to models that focus more on services and data. We have the capability to develop greenfield technology that can power industries in a new-age manner,” Soumitra Bhattacharya, Bosch Limited Managing Director, and Bosch Group India President told the reporters here.
“Be it connected industry, energy efficiency, smart home or other areas, Bosch is continuously growing due to successful collaboration of its cross-divisional teams, engineering heritage and strong presence on the Indian market,” he added.
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