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As global trade faces rising geopolitical uncertainty and economic volatility, Bosch Group is doubling down on India as one of its key strategic growth markets, alongside North America, even as the company undertakes structural job cuts and cost optimizations across Europe.
Speaking at Bosch’s Annual Media Conference, Chairman Stefan Hartung and Board Member Markus Forschner outlined the company’s sharpened global focus amid stagnating automotive production in Europe and slow adoption of key technologies like electric mobility and hydrogen fuel cells in certain regions.
“In North America and India in particular, we want to grow significantly faster in the coming years than we have before. For us, this isn’t about day-to-day politics, but an integral part of our long-term strategy,” Hartung said.
India’s inclusion in Bosch’s top growth targets comes as the company expands its mobility, consumer goods, and energy technology offerings, with special emphasis on electrification, hydrogen systems, and AI-driven automation.
However, despite recent geopolitical turbulence in the Indian subcontinent, Bosch leadership reiterated their confidence in India’s long-term potential. “Of course, it’s a risk because of this unfortunate terrorist attack and then the military reactions. We hope that this is a temporary state…We hope that Pakistan and India will reconcile again, ” said Hartung.
“I continue to trust that India will continue its development trajectory,” the executive said, adding, with growing consumer purchasing power and its position as a strong economy in Asia, India remains a crucial pillar of Bosch’s global footprint.
In the Energy and Building Technology sector, Bosch expects the planned acquisition of the heating, ventilation, and air-conditioning (HVAC) business of Johnson Controls and Hitachi to deliver significant growth, particularly in India and North America, regions seen as underpenetrated yet high-potential markets for energy-efficient technologies.
Bosch is also reinforcing its mobility solutions in India. With the rise of software-defined vehicles, the company plans to expand investments in electric vehicle manufacturing, new products, engineering capabilities, and strategic partnerships.
The auto component maker expects to maintain a growth rate exceeding 8% over the next five years in India, outpacing the overall market. The company remains confident in India’s automotive expansion, which is driven by increasing vehicle volumes and rising content per vehicle.
While Bosch targets aggressive expansion in India, the broader company is undergoing structural adjustments, particularly in Germany and Europe, in response to weak market conditions and increased competition—especially from Chinese suppliers.
Job reductions are part of what Bosch describes as a “necessary recalibration” to sustain competitiveness and free up capital for innovation and acquisitions.
Despite the headwinds, Bosch remains optimistic. Its 2024 free cash flow reached €0.9 billion, and the group is targeting 7% EBIT margins by 2026. “Our goal is to be among the top three providers in our core markets within five years… Growth in India and North America will be a key enabler of that ambition,” Hartung emphasized.
This article first appeared on Autocar
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