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Bosch Group to invest Tk 100m

Bosch Group to invest Tk 100m

Bosch Group, German-based global leading automotive components supplier, has announced setting up of its subsidiary named Robert Bosch (Bangladesh) Ltd here with the initial investment worth Tk 100 million, a top official of the company said.

“Bosch is looking at Bangladesh for the last 10-12 months because we found Bangladesh as a country of great opportunity in many fields that Bosch is operating in the world,” V. K. Viswanathan, Managing Director of Bosch Ltd, told an interview Monday.

“Our future plan is to fully utilize the opportunities that Bangladesh market offers, Mr Viswanathan, who is also president of Bosch Group India, said.

Bosch has been marketing its products here for about 22 years through dealer. After completing different formalities, the new company set up October 4 is expecting to directly bring its products in Bangladesh within five-six months.

The company will initially offer automotive aftermarket, security systems, power tools and thermo technology divisions. Over time, it will expand its offerings to include products from all division of Bosch.

Apart from automotive components, Bosch is also leading provider of products and services in the areas of industrial technology, consumer goods and building technology.

The subsidiary, wholly owned by Bosch, will be headquartered in Dhaka and be headed by Ajay Sahney in the capacity of Managing Director of the new company.

“We are looking for a place in Dhaka for headquarter of Bosch Bangladesh. Once we finalise our office, we will put some people for market survey in the big and small cities and ever the rural areas to find out what products we can bring in and how to expand the market etc,” Mr Viswanathan said.

Bosch, founded in 1886, is globally a big company; its turnover in the last year was roughly 51 billion euro, he said.

Bosch has over 300 subsidiaries in the world and six subsidiaries in India, he said, adding that Bosch Bangladesh is its first subsidiary here.

In a question, he said, “Bosch’s move to establish its subsidiary in Bangladesh absolutely indicates its rising economy and rising emphasise on infrastructure. Your government is putting a lot importance to improve infrastructure like airports, ports, roads and power stations etc. We believe that Bosch can play a big role here.”

“Bangladesh is a part of Next Eleven (N-11) countries. N-11 countries have a high potential of becoming, along with the BRIC (Brazil, Russia, India and China), the world’s largest economies in the 21st century,” he said.

Bosch sees immense potential in Bangladesh market and will grow significantly by offering high quality products across segments. This confidence is bolstered by the emphasis of Bangladesh government on key infrastructure projects. Bosch will also bring its new product offerings to this market and help the customer make a better choice, he said.

When asked whether Bangladeshi young talented youths can get benefit with the Bosch’s new move, Mr Viswanathan said, “Obviously. Once we establish good distribution system, we will provide training to the people.”

Mr Sahney said, “Establishment of this entity proves Bosch’s commitment to Bangladesh market. The company will start with establishing sales and marketing office and bringing compete range of products.”

The products to be brought include: automotive aftermarket such as fuel injection equipments, auto electrical brakes, power tools for construction, lawn & garden and other applications and security technology-video surveillance, public address and conferencing equipments, fire and safety equipments with special focus towards repair and servicing of Bosch products and spares.

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