German electronics firm Bosch eyes investing 100 million euros in India
New Delhi, Nov 28: Germany's Bosch Home Appliances on Wednesday, November 28, said it will invest 100 million euros (around INR 800 crore) over the next three-four years in India, PTI reported.
Saying that it is expanding its product portfolio in India, the company added that it will do so by providing localised offerings to take advantage of the fast growing home appliances market.
"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, as per the PTI.
Bosch said India's household appliance market is likely to grow 14.5 per cent annually between 2018 and 2022, leading to a market volume of USD 2,028 million.
"In the coming years, Bosch will take its offerings from conventional to digital and transform businesses beyond mobility, by focusing on connectivity and new digital business models for customer value, as well as extending new employment opportunities in the space," the statement said, the PTI added.