Bangalore: Germany’s Bosch Group said it will invest Rs 2,500 crore in India in the next three years to expand capacity, diversify its business portfolio and conduct research to tap demand in the country.
Dr Bernd Bohr, member, board of management, Robert Bosch GmBH, and chairman of its automotive group, expects India to be at the forefront of the group’s growth this year, during which it will complete 125 years of operations.
“Growth in China has levelled off,” Bohr told reporters in Bangalore on Thursday. The year “2011 will possibly see India leading the pack in terms of growth”.
The Chinese government had made some conscious interventions to control growth in the automotive sector by putting restrictions on the number of licence plates that can be issued in a month and by raising financing costs, he said. Bosch group posted a 36% increase in sales to Rs 9,270 crore in India in 2010.
“We hope to continue our growth by equipping ourselves to cater to the growing needs of the Indian market,” Bohr said. “The Indian economy’s resilience and its potential for growth are undisputed.” The expansion plan includes augmenting facilities in Coimbatore, Jaipur, Bangalore and Nashik and setting up new plants at Sanand in Gujarat and Verna in Goa, said V.K. Viswanathan, managing director of Bosch Ltd, the group’s Indian unit. Bohr said that the group plans to hire 6,000 more workers by 2013 to add to the 22,500 it already employs across India.
As part of its global inter-campus programme, Bosch will set up an independent Robert Bosch IISc Centre for Research in Cyber Physical Systems at the Indian Institute of Science in Bangalore with a grant of Rs 140 crore.