The amount is allocated to be spent over a span of 3 to 4 years. It will also be used towards creating personalised solutions and strengthening company’s technology centre
Bosch Home Appliances will be investing 100 million Euros for expansion in India. The amount will be spent over a period of three to four years and will be dedicated towards brand building, creating personalised solutions and strengthening company’s technology centre.
Bosch, through a statement also said that the company will be setting up a refrigerator factory and bringing in its best-in-class German technology to the country. It will also focus on magnifying India’s role at the global level.
Gunjan Srivastava, Managing Director, and CEO, BSH Household Appliances, said that the company wants to remain consumers’ first choice. He pointed out towards innovation and technology as the key pillars at Bosch Household Appliances. The company as per him is constantly working towards simplifying day-to-day lives of consumers by reinventing and rationalising solutions and accessories.
Conventional to digital offerings
Bosch says that the company will be taking its offerings from conventional to digital. It is also aiming to focus on digital business models and connectivity for creating customer value.
The company believes that India’s consumer appliances market is expected to grow at 14.5 percent annually (CAGR 2018-2022). The market, as a result, will reach a market volume of USD 2,028 million by 2022.
Bosch India is expecting its business in household appliances sector to grow significantly over the coming years. The company says that it has steadily expanded its product portfolio in the sector. Bosch’s major focus is on building localised offerings and India-first innovations built with help of German engineering.
Soumitra Bhattacharya, Managing Director and President, Bosch Group, India, had earlier said that the move to boost business with smart solutions was part of company’s overall business strategy to shift from a hardware-only company to one that can blend both hardware and software.
Bosch India current portfolio
The company currently sells its appliances through 55 exclusive Bosch outlets, 25 Siemens outlets and stores like Vijay Sales and Croma. It also has hundreds direct dealers in its sales channel. Bosch is currently busy building its distribution channel and expanding its retail presence.
Bosch’s 42-acre facility around Chennai in Tamil Nadu currently manufactures front-loading washing machines. This facility will also start manufacturing other appliances as well. The company in 2018 has launched microwave ovens, automatic top loader washing machines and other small appliances in India.