'Make in India' is an attractive proposition. It also serves as a precondition to making optimal use of the country's demographic dividend. The initiative intends to transform India into a global manufacturing hub and help foster a culture of innovation and entrepreneurship. With a strong manufacturing base, driven by local innovation, Bosch Limited is at the forefront of this transformation.
The company has been manufacturing in India since 1953 and since then it has continuously been tapping business opportunities in the country. Having identified the recurring and varying needs of India the company has today become a leading supplier of technology and services in the areas of Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology.
Over the past three years the company has invested approximately INR 1,750 crore in India and set-up around four new manufacturing facilities, apart from ramping up existing plants. Smart manufacturing or Industry 4.0 is a key enabler that can help India realize the goals of this national initiative. Drawing from its global experience and local competence, the company is showing the way for others in the country to follow. At Bosch Limited, we are focused on preparing the organization for the times to come. On the one hand, we have proactively been investing on machines and associates, and on the other, we have set ourselves the target of realizing Industry 4.0 standards in the near future. This dual approach will help us offer improved products of unmatched quality at affordable prices.
Bosch made its manufacturing presence felt in India at a time when industrialization was a distant thought. Over the six decades Bosch has set the standards for manufacturing in the country. As we continue to expand our operations in India, the need for more and improved localized development cannot be overlooked. In this area Bosch Limited has also grown tremendously, starting two decades ago and at a faster pace over the last years. From bringing common rail systems to India, we are now offering two-wheeler engine management systems developed in India. Bosch has been making conscious efforts to offer superior products that are environmentally friendly, cost-effective and above all possess the ability to connect with the 'youth'. We want our technology development to spark the imagination and drive of India's young scientific minds.
While the current business environment remains volatile and the industry faces ambitious legislative targets such as BS VI, the company is committed to helping India make this transition seamlessly. Our meaningful solutions have in my view contributed substantially to India's economic growth. Throughout our journey Bosch Limited has been developing and offering products to improve quality of life and help conserve natural resources. The company's unwavering commitment to customer satisfaction has helped it evolve to become a more agile organization.
Since its inception in India, Bosch Limited has been bringing about a meaningful change both through its products and services and through its social engagement initiatives. On the second aspect, I would also like to draw your attention to the quality training programs we have to offer. The company's skilling programs are relevant and effective and have been hailed by national bodies and state governments as a model to replicate and follow.
On behalf of Bosch Limited's board of directors, I want to thank all our shareholders for their sustained support, and all our customers and business partners for their firm faith in our ability to deliver. Going beyond, let me also take this opportunity to thank our entire workforce, who made our growth and success in FY 2015-16 possible through their hard work and dedication.
With best regards