Global manufacturing giant GE is keen to further strengthen its partnership with India, and in this regard, the company’s Chairman and Chief Executive Officer Jeff Immelt will visit India later this month, a statement from the company said on Friday.
“We see huge potential for India in the manufacturing space. Infrastructure is a key driver of India’s growth. We are keen to invest more in India and in projects to boost its infrastructure in sectors such as rail, power and healthcare,” said Immelt.
GE, which manufactures everything from aircraft engines to power turbines, said in the last five years it has doubled its investment in India and delivered approximately $3 billion in ‘economic value’.
The company has a multi-modal manufacturing facility in Pune, which is being leveraged as a global supply source for its aviation, turbo machinery, wind turbines and diesel locomotives business.
“As examples, the levels of local sourcing have increased 20 per cent for locomotives, 30 per cent for power equipment and 15 per cent for aviation. India may soon become a global centre of excellence for certain components,” GE’s statement said.
In the Pune facility, GE had announced an investment of $200 million earlier this year.
In the healthcare segment, the company already has public-private partnerships with seven State governments.