GE keen to strengthen partnership with India

Source: PTI

GE on Friday said it is keen to further strengthen its partnership with India and has doubled its investment in the country over the last five years. General Electric (GE) Chairman and CEO Jeff Immelt will visit India later this month, the company said in a statement. "Over the last five years, GE has doubled its investment in India and delivered approximately $3 billion in economic value. The investments have ranged from supplier development programmes to new, large infrastructure projects and manufacturing facilities," it said. "India is a growth engine for Asia, and we see huge potential for the country in the manufacturing space," Immelt said in the statement. Infrastructure is a key driver for India's growth and GE wants to invest much more in the country and in its projects to boost infrastructure in sectors such as rail, power and healthcare, he said. "These efforts will have a ripple effect on the overall economic growth in India and beyond," he added. GE's Indian manufacturing facilities, in general, and the multi modal manufacturing facility in Pune, in particular, are now leveraged by the company as the global supply source for a number of its businesses such as aviation, turbo machinery, wind turbines and diesel locomotives, the statement said. The company is now also partnering with various states across India to form public private partnerships (PPP). In healthcare, GE already has such PPPs with seven state governments. The company is further exploring similar partnerships with Bihar where it feels it can make a substantial difference, the statement said. Earlier this year, the company announced a $200 million investment in the multi-modal manufacturing facility in Pune, Maharashtra. This facility delivers localised products and solutions to Indian customers while also feeding GE's global supply chain, it added.  

September 04, 2015 | 5:50pm IST.