Auto Parts Maker Bosch to Add a $1.2 Billion Revenue by 2020

Auto Parts Maker Bosch to Add a $1.2 Billion Revenue by 2020

German automotive components producer Bosch expects India to be a key growth driver in its bid to double business in the Asia Pacific region by 2020. The 46 billion euro Stuttgart-based firm had 24 percent of the revenue coming from the Asia Pacific region. The Bosch group manufactures power tools, industrial machinery and home appliances, apart from auto components in India.

It sees the country becoming the world’s 5th largest vehicle manufacturer by the end of this decade. “This makes the country one of the global engines of growth alongside China,” Bosch Board of Management Chairman Volkmar Denner said.

The German firm, which reported a turnover of $2.6 billion in India last year, sees India as a key pillar of its growth strategy in the Asia Pacific. “Over the past ten years, Bosch has doubled its sales in Asia Pacific. By 2020, we are aiming to double our sales in the region again,” he added. Highlighting the significance of the Indian market in the process, Denner said: “The economic indicators give us much cause of optimism – especially after the recent elections. We believe that the new government is poised to accelerate economic growth and introduce strategic reforms.”

Bosch, which has ten manufacturing facilities in the country and seven R&D centers, has been active in the Indian subcontinent since 1922.  Since 2010, the Bosch Group has invested $1.2 billion in the expansion of manufacturing and research facilities in the country. “This money has been used to establish new production plants and to expand research and development centers,” Denner said, adding that the company currently employs more than 27,000 associates in India.

“The number has doubled within five years and is expected to grow further. This also reflects our firm belief in the country’s growth potential and our commitment to this region,” Denner said.


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