Bosch's financial director, Robert Bosch GmbH's Indian subsidiary, Bosch Ltd, plans to increase manufacturing in India over the next two to four years.

The technology supplier wants to reduce the amount of components it imports, which increased its spending on traded goods by 12% in the previous quarter.

Instead, it wants to increase the proportion of goods produced locally in India.

"Currently, we have roughly 54% traded goods and 46% manufactured goods," CFO Karin Gilges said in a press conference, adding Bosch plans to change this ratio in favour of the manufactured goods to align with country's "local for local, in India" ambitions.