GE to push infrastructure investments in India
05 Sep 2015
America's General Electric (GE) on Friday said it is looking to make further investments in India's rail, power and healthcare sectors.
"India is a growth engine for Asia, and we see huge potential for the country in the manufacturing space," company chairman and CEO Jeff Immelt said in a statement ahead of his visit to India later this month.
"We are keen to invest much more in India and in projects to boost its infrastructure in sectors such as rail, power and healthcare. These efforts will have a ripple effect on the overall economic growth in India and beyond,'' he added.
GE, which has doubled its investments in India in the last five years to $3 billion, said that as part of its "Make in India" efforts, the company has increased local sourcing by 20 per cent for locomotives, 30 per cent for power equipment and 15 per cent for aviation.
"GE's Indian manufacturing facilities in general, and the multi-modal manufacturing facility in Pune in particular, are now leveraged by the company as global supply source for a number of its businesses such as aviation, turbo machinery, wind turbines and diesel locomotives," Immelt said.
GE is also looking to form a public-private partnership in Bihar, in line with the existing partnerships it has with seven states for healthcare.
"GE is further exploring a similar partnership with the state of Bihar where GE feels it can make a substantial difference," Immelt said.