June 20, 2018
With a projected 7.5 percent GDP-growth for the Indian economy in 2018 and a similar level for the coming years, Bosch expects to post strong double-digit income growth
Bosch sees strong income from the development of the local automotive industry as well as from the Government initiatives for connected manufacturing and connected cities
Bosch set-up its manufacturing operation in India in 1951, which has grown to 18 manufacturing sites, and seven development and application centers, employing over 31,000 people
In India, Bosch is a leading supplier of technology and services in the areas of mobility solutions, industrial technology, consumer goods, and energy and building technology
German engineering and electronics company Robert Bosch GmbH (Bosch) said on June 20th that it would invest more than US$248 million in India over the coming three years. The investment plan comes amid strong expectations of recovery in the Indian market and that of positive development over the mid-term. The investment will be focused primarily on development of vehicular powertrains to address the transition from BS-IV to BS-VI fuel emission norms in India with potential for breakthrough in diesel technology. The company will also work on connected mobility solutions to become an end-to-end provider of mobility services. Additionally, the investment plan covers innovation in artificial intelligence (AI) from India to cater to the world. In India, the Bosch Group operates through twelve companies.
At the announcement of the investment plan, Bosch chief executive Volkmar Denner said, “The Indian economy is on the rise again and holds tremendous potential.” With a projected 7.5 percent GDP-growth for the Indian economy in 2018 and a similar level for the coming years, Bosch expects to post strong double-digit growth. The company sees strong income opportunities from the development of the local automotive industry, which holds opportunities for diesel technology, electromobility and connected mobility as well as from the Government initiatives for connected manufacturing and connected cities. The new investment will help meet the rising demand in the Indian market with tailored solutions, while expanding India’s strong role in the company’s work in new-age technologies such as AI and robotics.
A major share of the investment will be used to expand Bosch’s smart campus in Bengaluru karnataka and modernise manufacturing facilities across the country. In India, Bosch is a leading supplier of technology and services in the areas of mobility solutions, industrial technology, consumer goods, and energy and building technology. Additionally, Bosch has in India the largest development center outside Germany, for end to end engineering and technology solutions. Bosch set-up its manufacturing operation in India in 1951, which has grown to 18 manufacturing sites, and seven development and application centers, employing more than 31,000 people. Around 18,000 out of Bosch’s 31,000 associates in India work in research and development (R&D), underlining India’s importance for the Bosch’s global network.