GE aims $6 billion revenues from India in 3-4 years
NEW DELHI: Bullish on India, global diversified conglomerate GE today said it expects to double overall business revenue from the country to $6 billion in the next three to four years.
GE Chairman and CEO Jeffery Immelt said that the firm's overall business in India is around $3 billion and has been growing substantially despite difficult global economic environment.
"I would be disappointed if we don't double it (revenue) in the next three or four years and that is my expectation from the team here," he told reporters here.
The global giant, which recorded a total revenue of $183 billion in 2008, has presence in various verticals, including technology, energy infrastructure, transportation, aviation and enterprise solutions in India.
Enthused by the potential of the Indian market, he said: "We think it is exceptionally good time to invest in India and we are quite excited about the prospects here."
Immelt was here in the capital to announce merging of its various healthcare units into its joint venture with Wipro — Wipro GE Healthcare.
"Apart from healthcare, I think we have great potential in energy, transportation, aviation. Those are the core businesses that GE have," he said.
Immelt said India's potential as a market for the company in the healthcare sector was better when compared to China as customers here were closer to the US.
"There is a bigger private system here (India), there is a bigger clinic system here. There is more healthcare instruments here," he added.
GE entered in India over a century ago and set up the country's first hydro power plant in Karnataka in 1902. It has also established nuclear reactors at Tarapore, besides contributing to the development of combat aircraft Tejas.
The company has many joint ventures and associations, including with BHEL, SBI and Eureka Forbes, in the Indian market.
The American business entity, which is present in over 140 countries with more than three lakh workers, has over 12,000 employees in India.
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