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Bosch to invest Rs.650 crore in India

Tue, Oct 06, 2015, 04:22 PM
Bengaluru, Oct 6: Global automotive major Bosch Ltd would invest Rs.650 crore (100 million euros) this year on its innovation network in India, a top company official told Prime Minister Narendra Modi and German Chancellor Angela Merkel on Tuesday.

"To strengthen our presence in India, we plan to invest Rs.650 crore (100 million euros) in 2015," Bosch board member for Asia-Pacific Peter Tyroller said during the visit of Merkel and Modi to the Bosch facility here.

Modi and Merkel got a firsthand view of Bosch's research and vocational training activities in India through a presentation a company executive made on the occasion.

Indian engineers contribute to Bosch's activities in data mining and smart manufacturing that will be an integral part of its 14 plants across India by 2018.

Bosch vocational centre in Bengaluru has trained about 2,500 apprentices since it was set up in 1961.

Though Modi and Merkel did not make official statements or addressed the gathering, they interacted with a few young apprentices and asked them about the training they were undergoing for skill development.

"The visit to our facility is part of Merkel's three-day state visit to India, which focuses on innovation and skill development," a Bosch official said.

Over the medium and long-term, the 50-billion euro company expects to see positive development in India.
Agency: IANS

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