Auto components maker Robert Bosch plans to invest Rs2,200 crore in India in the next two years to enhance its production capacity and to develop new technologies for the domestic market.
Bosch achieved sales of Rs11,000 crore in 2011. It said the investment was in line with its strategy to increase the focus on localising its products and maintaining a growth of 20-21 per cent over the coming years in India.
Further, Bosch announced it would invest Rs140 crore to support research activities at universities in India in the next 10 years.
"Between 2012 and 2013, the Bosch Group plans to invest some 22 billion rupees (Rs2,200 crore) in India. Most of these funds will go into further expanding our local activities," Bosch Automotive Group chairman Bernd Bohr told reporters.
He added a major portion of the investment would go towards increasing the production capacities of its existing facilities located in Nashik, Jaipur and Ahmedabad.
"As Asia's emerging economies develop, demand for small, low-cost vehicles will continue to grow. In response to this trend, we continue to focus our efforts on developing affordable technologies that meet local needs," he said.