2012 Auto Expo - Bosch India to invest Rs 2,200 crore in 2012-13
Bosch India announced today that it would be investing Rs 2,200 crore in the Indian market over 2012-2013. Speaking at the Auto Expo 2012 in Delhi Dr Bernd Bohr, chairman of the Automotive Group and member of the board of management Robert Bosch, explained that this investment would be used for capacity augmentation, diversification and new technology development.
These funds would assist in the expansion of their plants in Nashik and Jaipur. This will also help in setting up new plants in Chennai and Ahmedabad. On the technology front Bosch India are expected to assume worldwide responsibility in the area of software engineering support for electronic control units (ECUs). 800 engineers have been recruited in Bangalore and Coimbatore for this task.
Bosch credits the investment to India as despite the uncertainties due to global economic and political developments, the Indian economy has continued to develop. They are expecting the Indian Automotive market to grow by 11 per cent compared to the global markets forecasted 3-5 per cent.
In 2011 Bosch's sales figures are expected to touch Rs 11,000 crore showing a growth of 20 per cent. In 2011 they recruited 4000 more associates giving them workforce strength of 25,000. With the new investment and expansion plans they are expecting to touch 32,000 associates by the end of 2013.