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BMW, Bosch to invest in India
By agencies
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Monday, 24 April 2006, 19:30 IST
HANOVER:India is ready to make its mark in the service arena, since the government in now pitching for manufacturing sector. PM has got commitment from manufacturing giants like BMW and Bosch.
Prime Minister Manmohan Singh has met many chief executives for on Saturday came out with investment commitment of around 2 billion euros. Government is working on way to speed up manufacturing sector.
Meanwhile in the interaction MD of Bosch groups Motor Industries Co Ltd (MICO) noted that India did not pay the manufacturing sector the same attention as software. The PM mentioned the setting up of the National Manufacturing Council and National Manufacturing initiatives as two important initiatives in this regard.
Power Minister R.V Sahi said today PM sought investment in seven ultra mega power projects and urged equipments makers ABB, Siemens to invest in India so that local procurement could be cheaper. Whereas BMW is set to roll out cars from a planet near Chennai and Mico Bosch too expanding its presence in India with investments of 500 million euro at its manufacturing facility in Nasik as also its back office in Bangalore.