Bosch India, a leading supplier of technology and services, further enhanced its partnership with the Indian Institute of Science (IISc) by signing a memorandum of understanding (MoU) on Oct. 28, 2015. Through this MoU Bosch and IISc will collaborate to address India centric requirements.

The signed MoU's were exchanged between Bosch and IISc in the presence of the President of India, Pranab Mukherjee at the Rashtrapati Bhavan, Delhi on Nov. 04, 2015.

Steffen Berns, president of Bosch Group in India, said, ''Based on this MoU we intend to develop solutions that address key India centric requirements. Innovation has always been a special strength of Bosch.''

In May 2011, the Bosch Group announced investments totalling Rs 3 billion to provide support for universities and research projects in Germany, China, India, and the U.S. over a ten year period, as part of its global initiative 'Bosch InterCampus Program'. The program aims to achieve lasting improvements in research conditions for undergraduates and scientists in the university sphere.

Approximately 1.15 billion (22 mio Euro) were allotted for India to accelerate progress in highly promising fields like environmental protection, energy, and mobility. The Robert Bosch Centre for Cyber Physical Systems was setup at IISc with this grant and is currently in its fourth year.

Shares of the company declined Rs 364.9, or 1.8%, to trade at Rs 19,890.00. The total volume of shares traded was 3,246 at the BSE (3.53 p.m., Thursday).