Germany is popular as the epitome of technological brilliance and precise engineering. Whereas, India has the reputation of being one of the largest markets in the world due to its billion-strong population and ever-growing middle-income consumers. The technology sector has witnessed rapid growth especially since the turn of this millennium. Foreign and Indian brands alike have been doing good business in India. Earlier it was European or the American brands and a few Japanese brands that were known for their quality, however, in the recent past, it is South Korean or the Chinese brands that have conquered the Indian market.
European brands have been almost wiped out starting from the consumer electronics, home appliances and communication sectors. The automobile sector is an exception where the European giants especially the German brands are still performing pretty well.
Bosch is a well-known home appliances brand from Germany. They are present in India since long and have been dealing in washing machines, refrigerators, microwave ovens, mechanical tools and so on. According to the company, the growth rate of the Indian consumer electronics market in the period from 2018 to 2022 would be around 14.5%. This makes the prospects very bright for the company in the future.
Bosch revealed that they are going to invest €100 million in the Indian market. Their focus areas will be personalizing solutions, brand building, tech development centre and building up a refrigerator manufacturing plant. Products such as fully automatic top load washing machines and microwave oven have been successful in India from the company’s perspective. They currently have one manufacturing plant in Tamil Nadu but soon they will be going to have another one after the investment.
The distribution channels opted by the company are brand showrooms, Siemens shops, big retailers such as Croma and Vijay Sales. In comparison, the Chinese brands are very active with their local manufacturing, distribution channels and huge investments in the local market. Popular brands from regions such as Europe, the US and Japan fall behind in the efforts made. This is the reason that the Chinese brands are leading the Indian consumer electronics market by a huge margin.