Bosch to speculate over Rs 200 crore in subsequent 5 years in India

Auto elements main Bosch Ltd will make investments over Rs 200 crore in India within the subsequent 5 years in superior automotive applied sciences and digital mobility area, its Managing Director Soumitra Bhattacharya has mentioned.

The firm can be “quietly and cautiously optimistic about having a double-digit growth in FY2022-23 over the previous fiscal year”, Bhattacharya, who can be Bosch Group India President, wrote to the corporate’s shareholders within the annual report for FY22.

He identified that the world goes by “unprecedented” challenges like the provision chain disaster, together with the continued chip shortages, China lockdown — specifically Shanghai, Ukraine-Russia War and geopolitical shifts.

“…this has resulted in one of the highest inflations we have seen in the world with impacts on interest rates and slowing down of the economy with a looming and possible recession,” Bhattacharya mentioned.

In 2021-22, the corporate recorded a complete income from operations of Rs 11,104.7 crore with revenue after tax at Rs 1,217 crore.

On the long run plans, he mentioned, “We are invested in the future…Bosch Ltd will invest more than Rs 200 crore in India in the next five years in advanced automotive technologies and in the digital mobility space”.

According to Bosch Ltd Chairman Markus Bamberger, the corporate’s markets are in flux on account of “climate action, electrification, automation, and connectivity”.

“Bosch global is prepared to tackle tough situations and has a strong product portfolio in electromobility with strong order books. We are also focusing our efforts on the promising field of fuel cells,” he added.

In India, Bamberger mentioned, “Bosch Ltd will support OEMs through system expertise and participate in ecosystem partnerships to become a major player in the electrification ecosystem”.

“We will also be involved in the hydrogen ecosystem with complete powertrain modules already present in our portfolio. Our target is to continue the transformation of India’s mobility into clean, convenient, and congestion-free,” he added.

While electrical automobiles will make inroads into India, Bamberger mentioned Bosch nonetheless sees the “dominance of Internal Combustion Engine (ICE) with a share of 70 per cent to 75 per cent till 2030”.