This German Conglomerate Is Ready To Be Part Of India's Next Industrial Revolution
India is at the crossroads, poised to embrace a host of long-term initiatives like Smart City, Digital India and Cashless Economy. It's time for global MNCs to move with the tide and make the most of these opportunities.
Big companies, which have been operating in India for several years, are developing products and technologies in tandem with the government of India's new road map.
Soumitra Bhattacharya, Managing Director, Bosch Ltd, and President, Bosch Group India, spoke to the Entrepreneur India about the company's contribution to India's latest innovation drive.
"Innovation constitutes the DNA of our company. We are doing a lot of work around Industry Revolution 4.0. We have set up an experience centre in Bidadi, Bangalore. It is Industry 4.0-enabled. For that matter, most of our plants have technologies and products that are ready for the leap into the 4.0 mode," Bhattacharya said.
He clarified that Bosch India was actively working on technologies around IoT, artificial intelligence, virtual reality and sensors.
To him investment in innovation largely involved investing in people and training them to set up labs to be able to work on emerging domains.
Bosch Group in India employs over 30,000 associates. It generated consolidated revenue of about INR17,022 crore in 2015 of which INR 12,100 crore came from a third party. In India, the group has close to 14,000 research and development associates. Bosch Limited is the flagship company of the Bosch Group in the country and has earned revenue of over 1.4 billion euros in 2015-16.
Ready For Next Industrial Revolution
Talking about the highlights of the next industrial revolution, Bhattacharya said, "Bosch in India has four verticals — one on mobility, on industrial area on energy and on consumers. In all four domains, intelligence is being put into machines. Consumers want smart products today. Energy, whether it is at home or office, also needs to have smart solutions. We have the software, hardware, knowledge and solutions to provide seamless solutions to consumers in any of the mentioned verticals," he said.
Mobility is undergoing a major change in India. "With hybridization and electrification, Bosch will be there to give seamless solutions to its customers as 85 per cent of the conglomerate's turnover comes from mobility," he asserted.
Outside Germany, Bosch has the largest development center in India, for end-to-end engineering and technology solutions. The Bosch Group operates in India through nine companies — Bosch Limited, Bosch Chassis Systems India Limited, Bosch Rexroth India Limited, Bosch Engineering and Business Solutions Private Limited, Bosch Automotive Electronics India Private Limited, Bosch Electrical Drives India Private Ltd.