India Asia’s growth engine: GE

Sanjeev Sharma

Tribune News Service

New Delhi, September 4

US conglomerate, General Electric (GE) today reiterated its commitment to Make in India and said it is keen to invest much more in the country joining several MNCs that have evinced interest in investing in manufacturing.

It said in its efforts to reinforce India’s position as a global manufacturing destination, the company is keen to further strengthen its partnership with India.

Jeff Immelt, chairman and CEO of GE, will visit India later this month. Over the past five years, GE has doubled its investment in India and delivered approximately $3 billion in economic value. Investments have ranged from supplier development programmes to new, large infrastructure projects and manufacturing facilities.

“India is a growth engine for Asia, and we see huge potential for the country in the manufacturing space,” said Jeff Immelt.

“Infrastructure is a key driver of India’s growth. 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.”

After the launch of ‘Make in India’ initiative in September 2014, there is 48% increase in FDI equity inflows during October 2014 to April 2015.