German company Bosch Home Appliances plans to invest €100 million(around Rs 800 crore) over the next 3-4 years in the Indian market. The company is expanding its product portfolio by providing localised offerings to tap the fast growing home appliances market in the country.

“Bosch Home Appliances will invest €100 million over the next 3-4 years towards personalising solutions, brand building, strengthening its technology centre, and setting up a robust refrigerator factory to bring its best-in-class German technology in India and magnifying India’s role globally,” the company said in a statement today.

According to Bosch, India’s household appliances market is expected to grow 14.5 per cent annually from 2018-2022, resulting in a market volume of $2,028 million.

“In the coming years, Bosch will take its offerings from conventional to digital and transform businesses beyond mobility, by focusing on connectivity and new digital business models for customer value, as well as extending new employment opportunities in the space, it added.