JOIN USBosch promises cost-effective solutions
Praising the technological advancements made by India, German automotive components major Bosch on reiterated its commitment to bring out more relevant innovations in a cost-competitive manner.
Interacting with reporters in Bangalore on Thursday, Bosch Group Chairman Volkmar Denner on his maiden visit to India said India continues to offer promising opportunities for the company's businesses which includes mobility, infrastructure, energy, security manufacturing and healthcare.
“India is positioned to become the world’s fourth largest economy by 2030 and fifth largest car producing country. These indicators give us optimism, especially after the recent elections. We believe that the new government is poised to accelerate economic growth and introduce strategic reforms that will help the country to meet its long-term aspirations,” Denner said.
He predicted that Indian economy is set to grow by 6 per cent in 2015 and it will be definitely one of the global engines of growth along with China.
Besides 13 factories in India making auto parts that include common rail systems for passenger cars and electric power steering systems, Bosch has four development centres for engineering and technology solutions.
“We have invested in our locations since 2010 and will reach Rs 5,400 crore by the end of this year. Today, we employ more than 27,000 associates in India. We doubled within five years and expected to grow further,” he said.
Bosch see great opportunities in the two-wheeler segments in India which will witness compounded annual growth of 14 per cent over the last five years and expected to reach 27 million by 2020.
“We have a dedicated organisation that covers all the segments in the market. Here, we can contribute in a big way to the ABS anti-lock braking system, engine management system and the electronic stability programme,” he said.
On localisation of manufacturing and developing engineering solutions for the Asian market, he said the company has been investing massively. “Our development centre for engineering and technology solutions in Bangalore is our second largest worldwide. With over 10,500 research and development engineers, we are committed to improving and developing innovation from India,” he said.
On manufacturing options for India, Denner said that Bosch is betting big on the free manufacturing zones in Asia. “We believe in the Modi government’s initiative of Make in India. Here, we also believe in progressive labour reforms from the country,” he said.