German home appliances maker BSH Hausgeräte GmbH considers India its 2nd largest emerging market
GmbH's global chief of sales and services Rudolf Klotscher said India is the company's second largest emerging market alongside Turkey and is a «huge focus» country.
The Euro 14.8-billion company, which sells Bosch and Siemens brands of refrigerators, dishwashers and kitchen appliances, has reported a double-digit growth in India in several categories such as built-in appliances and dishwashers when the Indian market is growing at 7-8%. Klotscher did not share the overall revenue numbers or company's revenue growth in India
“The potential for the future in India is very big. There are 1.4 billion potential customers in India," Klotscher told ET on the sidelines of BSH’s annual global press meet held virtually on Thursday.
“For India, 2024 has a promise of double digit growth as compared with 2023. While the Indian market is growing at about 7-8%, BSH aspires to be in this double digit growth figure for the next few years,” he said.
In its emerging markets region which also includes India, BSH’s turnover was down by 2.2% in 2023. Excluding the company’s complete withdrawal from the Russian market, there would be a slight turnover growth from the emerging markets driven largely by Turkey, it said.
Klotscher said India is observing high demand for luxury appliances, particularly dishwashers and built-in cooking ranges. Only 0.3% of Indian households have dishwashers. The category posted an 18% growth in 2023. Premium built-in cooking appliances reported 11% year-on-year growth in 2023. The small appliances
