Bosch will invest in home appliances and mobility in the next 3-4 years to achieve double-digit growth in India
Electronics major, Bosch India has announced the inclusion of smart solutions in its portfolio to cater to the growing consumer demands for smart infrastructure. Soumitra Bhattacharya, Managing Director and President, Bosch Group, India, said that the move was part of the company’s overall business strategy to shift from a hardware-only company to one that can blend both hardware and software.
The company portfolio is spanned across consumer goods, industrial technology, energy and building technology and mobility. It is planning to strengthen the portfolio by adding smart solutions in the mobility section such as smart manufacturing and connected industry solutions using robotics and automation. Bosch is focusing on setting up smart manufacturing facilities with the emphasis on automation, AI, IoT and digitisation that can boost quality and productivity.
The MD said that Bosch was able to gain increased relevance with the implementation of smart solutions. It is exploring digital solutions for energy efficiency, smart home and the related areas.
According to Bosch, India can become an innovation hub for the development of software-based solutions with Artificial Intelligence (AI), blockchain and Internet of Things (IoT) across varied industries.
Bosch is planning to make investments in its home appliances and mobility wings in the next 3-4 years. It will be setting up a refrigerator manufacturing facility and venture into electric and diesel vehicles in India with an investment of around Rs. 1,700 crores.
The electronics giant is eyeing to increase its business in these sections with the support of local players. It has planned on collaboration to drive connectivity forward and establish a localised business strategy to meet the consumer demands.