GE on Tuesday said it was looking at the regulatory and policy environment in India with cautious optimism.

In an exclusive interview with BusinessLine , Lorenzo Simonelli, President and CEO, GE Oil & Gas, said that though India has opportunities much more needs to be done to put projects on stream quickly.

“There’s a strong belief of cautions optimism. There is a positive momentum, but more needs to be done,” Simonelli said.

When asked if GE would have liked to invest more than it has in India, the man who is believed to be in the race for succeeding CEO Jeff Immelt said, “From priority perspective it depends on timing of the regulations, the way in which rules get decided and projects come on stream. There is an opportunity for India. Some projects have been discussed in the past and they are imminent now. So it’s about being here at the right time.” Lorenzo said that GE is a long-term player in emerging countries such as India because there is a great opportunity from a gas perspective and large energy needs. “We want to be a player here with ONGC to develop the projects, we want to help with the growth,” he added.

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