BENGALURU: German automotive engineering giant Bosch reaffirmed its plans to invest Rs 650 crore (100 million euros) to strengthen its presence in India, a day after German Chancellor Angela Merkel and Prime Minister Narendra Modi signed a number of MoUs to strengthen ties between the two countries.

On Tuesday, both Modi and Merkel also visited Bosch's Bangalore operations, along with several other top delegates and ministers from Karnataka, including chief minister Siddaramaiah.

Earlier this year, Bosch had said the company made capital investments of around Rs 500 crore in 2014 in India and planned to make further investments of Rs 650 crore in 2015.

'Our commitment to developing talent and the competence of our local engineers are part of our success story in India," said Peter Tyroller, member of the Bosch board of management responsible for Asia Pacific. "India is a key location in our global innovation network. To further strengthen our presence in the country, we plan to invest INR 650 crores (over 100 million euros) in 2015," Tyroller added.

Bosch is currently promoting what it calls 'smart manufacturing' across its plants in India and said that smart manufacturing would play an integral role in the company's growth in India. Smart manufacturing refers to the use of industrial internet and Internet of Things to make manufacturing systems smarter.