New Delhi, Nov 28 (PTI) German company Bosch Home Appliances Wednesday said it would invest 100 million euros (around Rs 800 crore) over the next 3-4 years in the Indian market. Also Read - Monsoon Session Day 2: Lok Sabha Passes Essential Commodities Bill to Raise Farmer Income, Boost Agri Sector | Highlights
The company said it is expanding its product portfolio in India by providing localised offerings to tap the fast growing home appliances market in the country. Also Read - 'Jammu And Kashmir to Reopen For Tourism Soon', Says J&K Administration
“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. Also Read - COVID-19: Centre Announces Guidelines For Unlock 2, Lockdown Till July 31 in Containment Zones
According to Bosch, India’s household appliances market is expected to grow 14.5 per cent annually from 2018-2022, resulting in 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, it added.
The company has already started localised offerings in segments as top-loader washing machine, mixer grinder and microwave oven.
This is published unedited from the PTI feed.