Bosch to do a whopping investment of $557 Million in India
The German engineering firm, Robert Bosch GmbH told the media that this collaboration will be investing a whopping amount of $557 million or Rs. 25 million by the month of December 2013 for establishing a fresh factory for manufacturing auto-parts in the country. Cars in India have become quite affordable. And Bosch can see that Indian Auto market is blooming and flourishing day by day. Therefore, investing in India is surely a better decision.
Bosch has pretty high hopes to gain impressive profit in India, particularly from the Indian Auto market. Car sales in India have certainly increased with a supersonic speed and have boosted up to 30% and the credit goes to the manufacturers who entered the Indian market. As per the chairperson of Bosch Automotive group, Mr. Bernd Bohr, since past decade its car sales have definitely increased to a great extend and the company expects to grow more.
Bohr also told that around Rs. 92.70 billion has been contributed to the Bosch Group by India through the global sales in the year of 2010. Bosch has showed an extraordinary growth in India as well as in China. Both these countries are counted amongst the most developing economies of the world. Bosch had recorded superfast growth in many other regions of the world, where Asia was on the top position. Bohr told that it was the 1st time for Bosch to outshine its mark of €10 billion (in the year of 2010).
Currently, Rs. 25 billion investment has been made by Bosch in India along with Rs. 20 billion that Bosch will spend in the month of December 2012 in India. This additional 20 billion is planned to be invested for the product development and research. The new auto-part factory that would be established by Bosch will employ around 6000 to 6500 people.