German technology company Bosch will invest Euro 220 million in India over the next three years for expansion. “In order to meet rising demand in the Indian market with tailored solutions, we will be investing some Euro 220 million over the next three years,” said Dr Volkmar Denner, chairman of the board of management of the Bosch Group.
In addition, the plan is to further expand India’s strong role in the Bosch Group’s global network. Apart from modernising Bosch manufacturing plants in India, the bulk of the investments will go towards further expanding Bosch’s new Adugodi smart campus in Bengaluru. The former manufacturing site is being converted into a high-tech engineering center. In the past five years, Bosch has already invested a total of some Euro 670 million in the country.
Bosch can see clear indications of recovery in India. “India’s economy is on the rise again and showing great potential,” said Dr Volkmar Denner. The country’s GDP is forecast to grow 7.7 percent this year, with a similar outlook for the years ahead. Even now, India is already Asia’s third largest economy. The Bosch Group sees a wealth of possibilities there – for example with solutions for electromobility, connected mobility services, and through government initiatives for smart cities and Industry 4.0. In the past year, the supplier of technology and services generated sales of Euro 2.2 billion in the local market, registering double-digit growth of more than 15 per cent. Bosch expects to see business continue to develop positively in India in the medium term.
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