Bosch Group, supplier of technology and services to original equipment manufacturers (OEMs) in the automobile sector, plans to invest Rs 2,300 crore in India over the next three years. The company is looking at introducing new technology-driven products in all its business areas such as automotive technology, industrial technology, consumer goods and building technology.
“Starting with 2011 calendar year, Bosch will invest around Rs 750 crore annually in its six subsidiaries. Of this, close to 70 per cent, will be invested in Bosch Limited, which manufactures a wide range of automotive components like inline pumps, distributor pumps, specialised spark plugs, injection systems and alternators among others,” said V K Viswanathan, Managing Director, Bosch Limited.
Speaking to reporters after unveiling the 125th anniversary insignia today, he said the company was working towards introducing affordable and cost-effective products for automotive applications. He said a sizeable portion of the investment would go into research and development as well.
Globally, Bosch spends 9 per cent of its total sales on R&D and the same level is followed in India, too. In 2009 and 2010, the company’s investment was Rs 400 crore and Rs 600 crore, respectively. The annual investment over the next three years would be higher considering the growing the demand for automotive products.
The company would be scaling up its manufacturing capacities in all its plants in Bangalore, Naganathapura, Jaipur, Nashik and Verna in Goa, Viswanathan said adding that the company would recruit around 800 employees every year in India.
