Bosch Automotive Electronics India Private Limited has revealed that its investment proposal has received a nod from the Indian Government. Bosch had presented a proposal for producing ECU (Electronic Control Units) for use in car engines under the M-SIPS (Modified special Incentive Scheme). This proposal has been approved by the honourable minister of Communication & IT and law, Mr. Kapil Sibal and the approval was handed over to Managing Director of Bosch Automotive India Private Limited, Mr. Markus Hildenbrand, in New Delhi at the E Governance Hall Deity.
Robert Bosch GmbH, commonly called as Bosch, is an electronics and engineering firm located in Germany. It was established in the year 1886. In the year 2011, Bosch was the largest supplier of automotive parts in the world. This company works in over 60 countries through its 350 subsidiaries with the products being sold in more than 150 countries. Bosch Automotive Electronics India Private Limited is its Indian subsidiary which was established in the year 1993.
With the approval of this proposal, the company gets an investment worth Rs 550 crores in a span of next 3-5 years. Dr. Hildenbrand expressing his joy and gratitude said that “India is a fast developing market for Automotive Electronics. With our world class manufacturing and software capabilities Bosch will continue to use its global expertise and experience to extend the local operations in India. This support from government bolsters our confidence and strengthens the efforts to provide customized solutions for the Indian market. The dedication of the Government of India to launch the MSIPS program brings to light the huge potential we have in meeting the local demand and exports requirement.”
President of Bosch Group India, Dr. Steffen Berns, giving his view on this development said that “I am extremely delighted and express my sincere gratitude to the Government of India in extending this scheme to support the Electronics industry. Electronics manufacturing is at a nascent stage in India and this support will enable the industry to meet the dynamic and modern requirements, especially in the automotive domain. Increasing demand by Indian consumers for vehicles with technologically advanced Engine Management as well as Safety Systems are the main drivers of growth for the Automotive Electronics market. We will continue to invest in this growing market and provide products of international standards, specifically tailored to the Indian requirements.”
A round table conference was held in January 2013 with Mr. Kapil Sibal as its chairperson. The purpose of the meeting was to analyze the requirements of the Indian industry. Under this scheme, Bosch was the 1st company to forward a proposal of Rs 550 crores.