Comments
Prime Minister Narendra Modi has urged US-based General Electric (GE) to make ships in India.
Speaking after inaugurating GE’s multimodal manufacturing facility in Chakan near Pune, Modi said his idea of development is centred on land, water and air.
Observing that in India GE is already present in land and air, the Prime Minister has invited the US conglomerate to invest in water, implying shipbuilding.
“India has an extensive coastline and skilled manpower. If we move towards making engines for ships, there are a lot of possibilities for shipbuilding and the youth will get a livelihood.”
Responding to the suggestion, John Rice, Vice-Chairman, GE, later said the company could consider making propulsion systems and engines for ships.
Investment size GE has invested around $120 million (around ₹740 crore) to set up the facility where a single machine can cut across businesses such as oil and gas, rail and aviation and make products for different sectors.
The second phase of investments will create additional capacity to support aviation, rail and diesel engine requirements.
The additional financial outlay for the expansion is estimated to be around $70 million.
Billed as a ‘Brilliant Factory’, the facility brings together automation, industrial internet and 3D printing.
It will cater to both domestic and export markets and half the output will be exported.
The hi-tech facility, which has employed 500 people now, will generate 1,500 jobs by the end of the second phase of expansion.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.