GE reiterates its commitment to 'Make in India'
New Delhi, September 04, 2015 - In its efforts to reinforce India’s position as a global manufacturing destination, GE is keen to further strengthen its partnership with India. Jeff Immelt, Chairman and CEO of GE, will visit India later this month. Over the last five years, GE has doubled its investment in India and delivered approximately US$ 3 billion in economic value. Investments have ranged from supplier development programs to new, large infrastructure projects and manufacturing facilities.
“India is a growth engine for Asia, and we see huge potential for the country in the manufacturing space,” said Jeff Immelt, GE Chairman and CEO. “Infrastructure is a key driver of India’s growth. We are keen to invest much more in India and in projects to boost its infrastructure in sectors such as rail, power and healthcare. These efforts will have a ripple effect on the overall economic growth in India and beyond.”
GE’s Indian manufacturing facilities, in general, and the Multi Modal Manufacturing Facility in Pune, in particular are now leveraged by the company as global supply source for a number of its businesses such as aviation, turbo machinery, wind turbines and diesel locomotives. As examples, the levels of local sourcing have increased by 20% for locomotives, 30% for power equipment and 15% for aviation. India may soon become a global centre of excellence for certain components.
GE is now also partnering with various States across India to form Public Private Partnerships (PPP). In Healthcare, GE already has such PPPs with seven State Governments. GE is further exploring a similar partnership with the state of Bihar where GE feels it can make a substantial difference.
GE is ensuring that the investments and jobs created in India support the ‘Make in India’ initiative. Earlier this year, the Company announced a US$ 200 million investment in the Multi-Modal Manufacturing Facility in Pune, Maharashtra. This facility delivers best-in-class, localized products and solutions for Indian customers while also feeding GE’s global supply chain. These investments supported the growth and development of over 1,000 suppliers in India.
About GE in India
Present in India since 1902, GE works to innovate, partner and develop technology solutions in energy, healthcare, infrastructure, aviation and financial services that improve the quality of life in the country. With over 13,000 employees, GE's imagination is taking the nation to the future with ideas designed and developed in India - for India and for the rest of the world.
With more than 5,300 technologists, GE's research centers in Bangalore, Hyderabad, Mumbai and Chennai are developing new technologies for both India and the world, while the 10 local manufacturing facilities bring products, services and technologies closer to customers. GE in India has partnered with a number of Indian companies to develop localized solutions, meeting the needs of the country. Committed to social development, GE in India is closely engaged with local communities on social and environmental issues.
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GE (NYSE: GE) imagines things others don’t, builds things others can’t and delivers outcomes that make the world work better. GE brings together the physical and digital worlds in ways no other company can. In its labs and factories and on the ground with customers, GE is inventing the next industrial era to move, power, build and cure the world. www.ge.com