The Bosch Group is forecasting further strong growth for India over the next few years, and expects to see positive economic development in the country over the medium- and long-term. The company sees India as a key pillar of its growth strategy in Asia Pacific.
During a press briefing in Bangalore, Dr Volkmar Denner, chairman of the Bosch board of management, said: “Over the past 10 years, Bosch has doubled its sales in Asia Pacific. By 2020, we are aiming to double our sales in the region again.”
Denner forecasts that after registering projected economic growth of around 4.8% this year, India will likely grow by 6% in 2015. This makes the country one of the global engines of growth alongside China.
The Bosch Group has been active on the subcontinent since 1922. In 2013, the company generated sales in India of approximately €1.2bn, a threefold increase over 10 years ago. Bosch currently employs 27,000 associates at 10 production sites and seven R&D locations in India. Since 2010, the Bosch Group has invested around €680m in the expansion of manufacturing and research facilities there, of which some €160m were invested in the current year alone.
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