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Bosch to invest Rs1,700 crore more in India (Lead)

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Bengaluru, June 20 (IANS) German auto component maker Bosch would invest Rs 1,700 crore in India over the next three years, a top company official said on Wednesday.

“To meet the rising demand in the Indian market and expand its strong role in our global network, we will invest Rs 1,700 crore over the next three years,” Bosch Group Chairman and Chief Executive Volkmar Denner told reporters here.

A major part of the fresh investment will be used to expand the company’s smart campus here and modernize its manufacturing facilities in the Indian sub-continent.

The 66-year-old Bosch has 18 manufacturing sites and 7 development and application centres across the country, with 31,000 employees, including 18,000 research and development (R&D) associates.

Besides three plants in Bengaluru, the company’s other production sites are at Chakan near Pune and Nashik in Maharashtra, Jaipur and Chennai and other states in the country.

Of the group’s consolidated revenue of Rs 19,204 crore, Rs 13,790 crore was generated by third parties, while its flagship company (Bosch Ltd) contributed Rs 10,842 crore in fiscal 2017-18.

“We will integrate our mobility services and Artificial Intelligence (AI) in India, as we are committed to address its transition to Bharat Stage (BS)-VI from April 2020 from BS-IV currently,” said Denner.

Main contributors for the company’s growth are the automotive industry, which holds opportunities for diesel technology, electro-mobility and connected mobility and government initiatives for connected manufacturing and connected cities

“With a projected 7.7 percent GDP-growth in fiscal 2018-19 and a similar level for the coming years, we expect the Indian economy to continue with momentum,” said Denner.

As India aims to achieve BS-VI from April 2020 and adopt electro-mobility solutions built for local conditions, the company offers technology to support both initiatives.

“We believe the internal combustion engine will continue to be the mainstream solution for freight and commercial vehicles,” noted Denner.

The company views co-existence of fossil fuel engines and electrification with hybridization as an interim solution.

“Hybrid technology will be a vital contributor towards the electrification goal in the country due to its stop-start driving patterns and road congestion. In light of that, fleet operators and smaller vehicles are poised to adopt electrification as soon as feasible options are available in the market,” Denner said.

As India is one of Bosch’s locations for AI, with two other at Sunnyvale in the US and Renningen in Germany, its AI centre in Bengaluru will play a key role as most of the products in the near future will be linked to AI, he added.

–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma

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World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.

Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.

During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.

On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”

Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.

It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.

Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.

Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”

On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”

The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.

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