Bosch to invest $400 million to expand operations in India
05 Jan 2010
The Indian arm of German engineering giant Bosch said on Monday that it would invest more than $400 million in the next two years to expand operations in the country.
The company, which is a major manufacturer of diesel injection systems, said that India was witnessing a strong increase in demand for diesel engines.
The company added that the diesel engine consumed 30 per cent less fuel than gasoline engines while the common-rail technology, which it introduced, reduced the pollutant emissions of diesel engines allowing manufacturers to meet strict emission standards.
According to the company's statement, Bosch introduced common-rail fuel injection systems in India in 2006. It added that nearly a quarter of the new investment would go towards research.
India is the third-largest car market in Asia after China and Japan. The Japanese-owned Maruti Suzuki is a clear leader in the Indian car market. Car sales in India are expected to cross two million units next year.
Bernd Bohr, chairman, Bosch Automotive Group told a press conference that the company's sales rose 5 per cent to Rs68 billion in 2009.
.jpg "RBI keeps repo rate unchanged as focus remains on inflation")
.jpg "Indian Oil, Panasonic team up for lithium-ion cell production in India")
