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Bosch to invest Rs1,700 cr more in India
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SME Times News Bureau | 21 Jun, 2018
German auto component maker Bosch would invest Rs 1,700 crore in India
over the next three years, a top company official said on Wednesday.
"To
meet the rising demand in the Indian market and expand its strong role
in our global network, we will invest Rs 1,700 crore over the next three
years," Bosch Group Chairman and Chief Executive Volkmar Denner told
reporters here.
A major part of the fresh investment will be used
to expand the company's smart campus here and modernize its
manufacturing facilities in the Indian sub-continent.
The
66-year-old Bosch has 18 manufacturing sites and 7 development and
application centres across the country, with 31,000 employees, including
18,000 research and development (R&D) associates.
Besides
three plants in Bengaluru, the company's other production sites are at
Chakan near Pune and Nashik in Maharashtra, Jaipur and Chennai and other
states in the country.
Of the group's consolidated revenue of
Rs 19,204 crore, Rs 13,790 crore was generated by third parties, while
its flagship company (Bosch Ltd) contributed Rs 10,842 crore in fiscal
2017-18.
"We will integrate our mobility services and Artificial
Intelligence (AI) in India, as we are committed to address its
transition to Bharat Stage (BS)-VI from April 2020 from BS-IV
currently," said Denner.
Main contributors for the company's
growth are the automotive industry, which holds opportunities for diesel
technology, electro-mobility and connected mobility and government
initiatives for connected manufacturing and connected cities
"With
a projected 7.7 percent GDP-growth in fiscal 2018-19 and a similar
level for the coming years, we expect the Indian economy to continue
with momentum," said Denner. As India aims to achieve BS-VI from
April 2020 and adopt electro-mobility solutions built for local
conditions, the company offers technology to support both initiatives. "We
believe the internal combustion engine will continue to be the
mainstream solution for freight and commercial vehicles," noted Denner. The company views co-existence of fossil fuel engines and electrification with hybridization as an interim solution. "Hybrid
technology will be a vital contributor towards the electrification goal
in the country due to its stop-start driving patterns and road
congestion. In light of that, fleet operators and smaller vehicles are
poised to adopt electrification as soon as feasible options are
available in the market," Denner said.
As India is one of Bosch's
locations for AI, with two other at Sunnyvale in the US and Renningen
in Germany, its AI centre in Bengaluru will play a key role as most of
the products in the near future will be linked to AI, he added.
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