World’s largest auto component manufacturer Bosch will invest Rs 3,000 crore in India over the next three years mostly on expanding capacity and developing technologies to maintain its 20% plus growth rate in the country.

“India provides long term opportunities and, therefore, over the next three years we plan to invest 3,000 crore in India,” Bosch MD V K Vishwanathan said. He said the investments will help the firm maintain its compounded annual growth rate of 20%-22% over the next five years in the country.

Earlier in the day, the German firm announced that it would invest 2,200 crore between 2012 and 2013.Bosch Automotive Group Chairman Bernd Bohr said the company will focus on affordable technologies.

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“As Asia’s emerging economies develop, demand for small, low cost vehicles will continue to grow. In response to this trend, we continue to focus our efforts on developing affordable technologies that meet local needs,” Bohr told reporters.

The company will also invest Rs 140 crore to support educational and research initiatives in the country in 10 years, Bohr said. This is almost half of Rs 320 crore that the firm has dedicated to support research activities in India, China, Germany and the US.