GE to double exports to India
PRESS TRUST OF INDIA
Mumbai, Nov 6: Pinning hopes on stronger Indo-US ties in the wake of US President Barack Obama's visit here, Global engineering firm General Electric (GE) today said it plans to increase exports to India. The company said it is looking at doubling its overall exports in next five years.
"The rest of the world is growing very quickly... We have to be more focused on exports. It is our desire to double our exports in five years," GE Chairman and Chief Executive Officer (CEO), Jeffrey R Immelt told a private news channel.
Obama arrived in Mumbai today as part of his three-day India visit that will focus on seeking greater access to Indian markets for American businesses, besides dealing with wide range of political issues.
Immelt said scaling up of exports by GE would also benefit other countries as it would create jobs in the rest of the world, besides the US.
India is a big market for engineering firms as there would be big focus on infrastructure development during the 12th Five year plan, which would commence in 2012.
Though the next Plan has not been unveiled yet, Prime Minister Manmohan Singh has already indicated that investment in infrastructure would be doubled to USD 1 trillion during 2012-17, as against USD 500 billion in the current Plan.
Lastupdate on : Sat, 6 Nov 2010 21:30:00 Makkah time
Lastupdate on : Sat, 6 Nov 2010 18:30:00 GMT
Lastupdate on : Sun, 7 Nov 2010 00:00:00 IST
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