PremiumBSH Home Appliances CEO Kriwet said, ‘India is one of the key markets in our emerging markets regions. It’s our key focus area. We have been growing 30% over the last two years and we are targeting half a billion of euros in turnover in 2025’
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NEW DELHI : European home appliances firm BSH Home Appliances Group, which has brands such as Bosch and Siemens, on Wednesday said its India business could grow to half a billion euros by 2025 as it launches more products and localizes manufacturing in the market.
“India is one of the key markets in our emerging markets regions. It’s our key focus area. We have been growing 30% over the last two years and we are targeting half a billion of euros in turnover in 2025. We are on a really good path towards that goal," said Carla Kriwet, chief executive officer of BSH Home Appliances Group, who was in Mumbai for a market visit.
BSH Hausgeräte GmbH, which employs 62,000 employees globally sells home appliance such as washing machines, refrigerators, cook tops, and dishwashers. The company’s brand portfolio includes 11 appliance brands such as Bosch, Siemens, Gaggenau and Neff. The company has 40 factories globally, with sales in 50 countries. BSH is a company of the Bosch Group.
The company has also been stepping up local manufacturing. “By 2025, we would like to achieve 70-75% of localization (local assembling and product manufacturing) up from the current over 60%. So we are developing India focused, India first products," Kriwet said. The localization strategy will cut across categories, she said.
On Wednesday, the company unveiled a range of indigenous refrigerators, in line with its ‘Make in India’ commitment.