GE India on Monday said it is targeting a topline of $8 billion from the Indian market by 2010 as it anticipates its revenues from the emerging markets to cross the $50 billion mark by then.
GE India has earmarked infrastructure, healthcare and financial services as growth engines for India. Emphasis will be on innovation, technology and R&D in India and the company has filed for more than 800 patents from India.
The company would also invest $500 million in the domestic infrastructure sector and would double this investment in 2007.
"We have enough projects in the pipeline and are going to leverage the diversity of our businesses in India," GE India president and CEO Scott R Bayman said. He said GE has identified India as one of the key players amongst emerging markets worldwide, which would drive its growth in the next few years.
GE India is anticipating revenues to the tune of $6 billion in the current fiscal, he said. "Infrastructure is the 'GDP Multiplier' for India. For India's GDP to grow at 7-8% per annum, core infrastructure areas in transportation, energy, and water have to grow double digit per annum. At GE Infrastructure, our vision is to be the enabler of India's GDP growth," said Pratyush (Prat) Kumar, president & CEO, GE Infrastructure India.
