Bengaluru, June 20 (IANS) German auto component maker Bosch would invest Rs 1,700 crore in India over the next three years, a top 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 in this tech hub and modernise its manufacturing facilities in the Indian sub-continent.
Bosch has 18 manufacturing sites and seven development and application centres across the country with 31,000 employees, including 18,000 research and development (R&D) associates.
Of the group’s consolidated revenue of Rs 19,204 crore, Rs 13,790 crore was generated by the third party, while its flagship company (Bosch Ltd) contributed Rs 10,842 crore in calendar year 2017.
“We will integrate our mobility services and Artificial Intelligence (AI) in India, as we are committed to address its transition to Bharat Standard-VI (BS-VI) from BS-IV by 2020,” said Denner on the occasion.