Godrej-GE Appliances which sold a faulty refrigerator has been held guilty of deficiency in service by a Delhi consumer court.
Defence Minister Manohar Parrikar says global aircraft makers will have to get approval from their own governments to transfer technology and build jets in India.
GE Aviation has signed a 20-year engine maintenance agreement with Air India. The agreement covers the maintenance, repair and overhaul (MRO) of GE90 aircraft engines.
Shipments of personal computers grew 3.8 per cent on a year-on-year basis to 14.4 million driven by demand for gaming and AI-powered PCs, market research firm IDC said on Monday. IDC India, South Asia and ANZ, associate vice president for devices research, Navkendar Singh said the weakening rupee can lead to an increase in device costs, which can impact the price-sensitive SMB (small and medium businesses) and consumer segments but despite all challenges, the India PC market is most likely to witness a low single-digit growth in 2025.
GE India, the $2.8 billion industrial giant, plans to invest $6 billion till 2015 in medical systems, services and IT tailor-made for rural India. Also, GE, the parent company, is looking at making India the sourcing hub for aerospace parts and healthcare products and is in the process of developing a supply chain for this.
The US Trade Representative noted that India's average applied tariff rate stood at 17% per cent, the highest of any major world economy.
"The company plans big in three areas infrastructure, energy and aviation, but our main focus is to manufacture windmills and turbines," GE India President and CEO Tejpreet S Chopra told PTI. GE which installed first hydro power plant in 1902 presently has a headcount of 14,500 in India.
GE Healthcare has already filed five global patents for its design.
One hundred and fifty or so GE employees filled the seats for what promised to be a fun hour or so watching these two superstars, both at the tops of their games, kick around the business issues of the day.
GE Healthcare, a $15 billion segment of General Electric company, will continue to invest aggressively in India, where it's logging double digit growth, a top company official said on Friday.
GE has drawn up plans to make India a global sourcing hub for all its core businesses. It has decided to develop and manufacture products locally for global markets and partner in large-scale projects in areas such as energy, water, aviation and rail transport.
Iqbal Singh has been appointed as the new CEO and President of GE Money India. The company is also planning to induct a strategic partner in a few months.
The 100-stock largecap basket of Mutual funds (MFs) has seen a major reshuffle in the latest semi-annual reclassification with seven midcap stocks and four new listings earning the largecap tag. According to a report from Nuvama Alternative & Quantitative Research, the midcap stocks that have been upgraded include CG Power, Rail Vikas Nigam, ICICI Prudential Life Insurance, Polycab India, Indus Towers, Cummins India, and Info Edge.
Jet Airways has placed a $300 million order with US aeroengine major GE for supplying engines to power the Mumbai-based airline's Airbus A 330-200 fleet.
GE India on Friday said it would invest nearly Rs 1,100 crore (USD 200 million) to set up a new manufacturing facility in Pune for developing products for the energy sector.
US financial major GE Money is keen to enter the banking sector in India and is currently carrying out a feasibility study on "routes" to be adopted before approaching Reserve Bank for approval.
GE Commercial Finance will invest $63 million in the Indian IT Parks Fund, sponsored by Ascendas Pte Ltd.
Jeffrey R Immelt, chairman and chief executive officer of GE kickstarted the initiative.
Our 2013 profitability growth will be at double the revenue growth rate: John L Flannery
Price becomes a challenge in a country like India and, hence, we are trying to halve the cost and give higher outcome, says V Raja, CEO, GE Healthcare India.
GE is selling the shares to "an affiliate of a limited partner in one of Genapct's other shareholders," the companies said in statement. Genpact, one of India's largest business process outsourcing firms by revenue, started out in 1997 as the India-based BPO division of GE Capital.
GE India is embarking on a major localisation drive under which 60-70 per cent of the products that it sells will be manufactured in the country in the next five years. At present, the localisation is about 10 to 20 per cent.
GE Money India is looking for a strategic partner to drive scale just as it did with the State Bank of India (SBI) for its card business. It is trying to replicate its card model in its joint venture with Wizard Home Loans, a non-banking finance company from Australia.
"Initially we would invest $50 million for setting up the manufacturing facility... total investment will be $200 million, including after expansion, and the company will take a call in the next 3-6 months," GE Chairman and CEO Jeffery R Immelt said.
Like so many other MNCs, it is targeting emerging markets, of which India represents a major chunk, as a critical growth area. But India is also rapidly becoming a key geography where some of the innovative products to address the market at the bottom of the pyramid are being developed.
Investment banking sources said Reliance had made its desire clear to be a global petrochemicals major.
The facility, to come up on the public-private-partnership mode, will roll out 120 IGBT (insulated gate bipolar transistor) electric locos of 12,000 horse power every year.
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.
The agreement guarantees energy availability for GE's power generation equipment, improving the plant's production, and supply and repairs of spare parts. RGPPL, which owns the gas-based plant, was incorporated in 2005 to revive generation at the facility which had been beset by problems like equipment failure and a financial crunch.
Tata group-owned Jaguar Land Rover (JLR) has secured a 170 million pounds (about $ 284 million) loan from GE Capital in a move to strengthen its financial position, media report says.
India's IPR framework and enforcement were comparable to those in developed countries
