December 7, 2007 -- Robert Bosch, the German automobile industry supplier, is planning to invest a further 170m euros in India by 2010, in addition to a 325m-euro investment programme between 2005 and 2008. The company expects its turnover in India to grow by almost 20 per cent to 815m euros this year, while the number of staff employed by the group in India is set to rise by 10 per cent to 18,000.

Until now, Bosch has been known in India mainly through its subsidiary Motor Industries Company Limited (Mico); the company now plans to rename its Indian subsidiary Bosch Limited, provided that it obtains the approval of the authorities and of outside shareholders, who control 30 per cent of the subsidiary. The group expects production volumes of automobiles in India to double to 4.4 million vehicles a year by 2010, which will open up opportunities for Bosch.

Source: Frankfurter Allgemeine Zeitung