Auto component maker Bosch said it will invest Rs 2,200 crore in India in the next two years to enhance its production capacity and develop new technologies for the domestic market.
The company, which achieved sales of Rs 11,000 crore in 2011, said the investment is in line with its strategy to increase focus on localising its products and maintain a growth of 20-21 per cent in the coming years in India.
Besides, Bosch announced that the company will invest Rs 140 crore to support research activities at universities in India in the next 10 years.
“Between 2012 and 2013, the Bosch Group plans to invest some 22 billion rupees (Rs 2,200 crore) in India. Most of these funds will go into further expanding our local activities,” Bosch Automotive Group Chairman Bernd Bohr told reporters.
He said a major portion of the investment will go on increasing the production capacities of its existing facilities located in Nashik, Jaipur and Ahmedabad.
“As Asia’s emerging economies develop, demand for small, low cost vehicles will continue to grow. In response to this trend, we continue to focus our efforts on developing affordable technologies that meet local needs,” he said.
Of the total investment, Rs 700 crore will be used in enhancing Nashik plant capacity while the rest will be spent on executing the expansion plans of other…
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