Among its various verticals, Bosch's mobility solutions business segment witnessed 3.3 per cent increase in revenue in FY19 owing to strong business growth in the first two quarters of last fiscal. While its domestic sales increased by 4 per cent, its export sales decreased by 4.5 percent in the last financial year, the company said.
On the outlook for the ongoing fiscal, the auto component maker said it would post sound growth despite the headwinds facing the industry.
"India's mobility sector is rapidly transforming and it is assumed to experience a significant growth with electric mobility in coming years. This fiscal year, Bosch will be seen to contribute significant innovations to the industry," Bhattacharya said.
Globally, the German-based firm is hopeful of improving its sales in 2019. " The Bosch Group expects global economic development to be subdued in 2019. We expect our sales in the current year to slightly exceed the 2018 levels," it said.