GE expects India revenue growth between 15 to 20 %
23 Feb 2013
General Electric expects revenue growth from the company's Indian business between 15 and 20 per cent despite the current economic slowdown.
According to GE's chief executive Jeff Immelt, the firm would continue to invest in India because the company, which started operations in New Delhi in 1902 with the installation of a hydropower plant, was in the country for the long-haul.
The Wall Street Journal, said Immelt did not provide any details of GE's India revenue, nor what he expected to drive the 15-20 per cent revenue rise.
He did say that he expected growth in all of GE's businesses in India, including healthcare and aviation.
The paper said Immelt, expressed concern over a shortfall of gas supply to India's power plants.
He added he always believed that growth in India had to be greater than 5 per cent.