The Bosch Group is forecasting 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.
Volkmar Denner, the chairman of the Bosch board of management, during a press briefing in Bangalore, India, said, "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,"
India will likely grow by 6 percent in 2015. This makes the country one of the global engines of growth alongside China. "We expect to see India establish itself as the world's fifth largest vehicle manufacturer by the end of this decade," Denner said.
The Bosch Group has been active on the subcontinent since 1922. In 2013, the company generated sales in India of approximately INR 13,200 crores, a three-fold increase over ten years ago. Bosch currently employs 27,000 associates at ten production sites and seven R&D locations in India.
Since 2010, the Bosch Group has invested around INR 5,400 crores in the expansion of manufacturing and research facilities there, of which some INR 1,200 crores were invested in the current year alone.
India is home to the technology and services company's largest development center outside Germany, employing 10,500 engineers.
Steffen Berns, president of the Bosch Group in India said, "We develop innovative solutions there which are used in products around the world." .
The rising number of patents filed shows the successful work at the center: from 20 registered innovations in 2008, this figure rose to 220 last year. "That's a more than ten-fold increase within five years," Berns said.
Bosch also sees excellent opportunities in the booming two-wheeler market: last year it registered a growth rate of 14 percent, making it one of the most dynamic markets in India.
"We predict that the number of two-wheelers sold annually on the subcontinent will reach 27 million by 2020," Denner said. Worldwide, the number of motorcycles and electric e-scooters sold is expected to increase from 100 million today to 150 million by the end of the decade.
Bosch is also entering the global motorcycle market with new powertrain systems. Especially in Asia and India, efficient powertrains can play an important part in reducing environmental impact. For this reason, Bosch has developed an affordable and robust engine management system that is specially designed for the Indian and Asian markets.
Currently, many machines in Asia are still fitted with carburetors. It is precisely here that Bosch believes its technology offers a decisive advantage.
Denner said, "Compared with the mechanically controlled carburetor, and depending on situation, the electronically controlled fuel-injection system can reduce fuel consumption by up to 16 percent."
Bosch already supplies two-wheelers with ABS and the new MSC motorcycle stability control, which improves safety when braking and accelerating.