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GE is ready to make India its manufacturing hub – signature of golden time for India’s manufacturing sector
When the smartest and most efficient company in the world selects its manufacturing hub for the next many years, there are reasons to believe that region of the world will prosper in manufacturing.
The largest of large companies, the US conglomerate General Electric said it was looking at acquisitions in financial and industrial side and was also considering India as a manufacturing hub.
General Electric is not new Indian outsourcing sector. It was the pioneer in starting business process outsourcing in India when no one was thinking about it. GE is well known for recognizing unpolished pearl and make it shine.
Indicating that the company was looking at enhancing its investment in India, CEO and Chairman of GE Worldwide Jeffrey Immelt said, "this is the right time to invest in India and we will be bold on the market here".
Addressing a CII CEO's forum Thursday, Immelt said though the company did not have a "good time" in India, "whenever we invested in markets in India we have made losses," GE is now planning to make investments in the country and was ready to work with the government and other Indian players.
"We want to invest back in India and we expect great benefits for GE," he said.
The company is targeting 8 per cent organic growth and he expected India to be a major contributor to this.
Mentioning that the company would continue to be a major player in the energy sector, Immelt sought speedy resolution of the Dabhol imbroglio so that the company could move on with its work in India.
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