BMW Group increases investment in India to Rs 530 crore

Germany's BMW Group on Tuesday said it has more than doubled its investment in the Indian arm of auto -finance business in a bid to expand its footprint in the country's rapidly increasing automobile market.

The Group would invest Rs 530 crore ($106 million) in BMW Financial Services India in 2012 as against an investment of Rs 230 crore (USD 50 million) in 2010, the auto major said in a release here.

"This investment will help us enhance our product and service offering in India to further augment BMW India's market leadership," BMW Financial Services India Managing Director and Chief Executive Officer Dan DeChristopher said.

Besides, BMW Financial Services India will recruit more than 80 people in the current year at its Gurgaon headquarters, the release said.

A new in-house customer interaction centre has been launched to provide assistance to BMW's existing as well as prospective buyers, it added.