The world's largest automotive component manufacturer, Bosch, plans to invest Rs 2,000 crore in India over the next three years. Of this amount, the company will spend around Rs 500 crore towards increasing its research and development facilities in the country.
"India will be an important market for the company in the immediate future. Growth focus has shifted to the Asia-Pacific after the financial crisis," said Bernd Bohr, chairman of the Stuttgart-based Bosch Automative Group.
Bohr said demand in developed markets like the US and Europe has still not picked up, and it will be some time before demand touches pre-2007 levels in the developed markets.
Bosch Group mopped up Rs 6,600 crore (1 billion euros) of its total revenues (about 3 per cent) from India. "We expect India to contribute 5 per cent of our total revenue over the next three years," said Bohr. The total revenue of the company from all its operations was 38 billion euros (Rs 2,50,000 crore) in the calendar year 2009.
Bosch is also ready with components of the Tata Nano's diesel engine. "Whenever the Tatas place an order, we would be ready with the components for the diesel engine variant of Tata Nano," said VK Viswanathan, managing director, Bosch.
The company has also introduced a 'common rail' diesel fuel injection system for medium and heavy commercial vehicles in India.