Technology groups are increasingly focusing on the subcontinent.
(Photo: Bosch)
Stuttgart Bosch exceeded its sales forecast and “expected double-digit growth” in the current year. New deputy boss Christian Fischer told Handelsblatt in his first interview. The company previously estimated an increase of six percent. This means the Bosch Group should have sales of over 87 billion euros by 2022.
In light of the geopolitical crisis, the foundation group is revising its strategy. “We have to rethink our medium-term investment priorities. The topic is on the agenda of all Bosch leadership,” said Fischer. Plants in Russia will be sold.
In China, where Bosch generates about a fifth of the Group’s sales, there are no plans to reduce its involvement. To further cushion risks from China in the future, Bosch is counting on India, among others, with its 1.4 billion people. With a growth rate of over 30 percent over the last two years, Bosch now has sales of over two billion euros there. “It’s not a snap,” Fischer emphasized.
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