According to reports, the $150-billion global conglomerate General Electric (GE) will set up its first integrated manufacturing facility in India at Pune in Maharashtra with an upfront investment of $200 million (Rs.1,000 crore), a top official said Monday.
“The $200-million manufacturing facility at Pune will focus on making products for the Indian market with increasing localisation,” GE chief executive Jeffrey R. Immelt told reporters in Bangalore.
The multi-technology and multi-business facility on 60 acres of land will provide jobs for about 2,000 people and expand the company’s product portfolio to increase its market share and revenues in India.
“We still see robust demand for our infrastructure products and financial services in the Indian sub-continent. We will continue to focus on aviation, transportation, energy and healthcare to grow our business, which had seen about 30 percent increase last year (2010),” Immelt said on his first visit to Bangalore.
GE, which has presence in India over a century when it had set up the country’s first hydro power plant in the southern state of Karnataka, has a significant footprint across key locations with technology centres in Bangalore and Hyderabad, employing about 14,000 people.
“We have substantial business coming up in the renewable sector, especially wind energy with orders for $100 million this year and hope to do $ 250-million business in the sector next year,” Immelt said.
Combining the engineering and technical talent at the Jack F. Welch Technology Centres in Bangalore and Hyderabad, the company plans to penetrate the Indian market with more products and services.