"This investment will fuel our ambition to grow in the packaging industry." Said Karthik Viswanathan, Managing Director of Bosch India.
Bosch's Packaging Division started its Indian operations in Bangalore in 1995 before moving to Verna/Goa in December 2007.
By the end of 2012 Bosch is aiming to have a fully operational plant integrating the whole Indian production.
With the new plant the division will see an increase in the production capacity and its number of employees.
India has enjoyed substantial growth in fast-moving consumer goods, the food and beverage sector as well as the pharmaceutical industry, which in turn stimulated the demand for packaging machines.
Wrapping machines
Bosch India enters the market mainly for horizontal flow wrapping machines. "In India the demand for packaging machines is expected to grow by 10 percent per year," said Ashok Gourish, Business Head of Bosch Packaging Technology's Verna plant.
"The development of food parks in India, increased hygiene standards in the food and beverage industry, adoption of Western-style medicines in the pharmaceutical sector and attracting global players of the confectionery industry to India – all these are factors which have acted as key catalysts for this growth."
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