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.
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.
India is expected to overtake the US as the largest developer community on GitHub by 2027, Microsoft chairman and chief executive officer Satya Nadella said during his address to 1,100 developers and technology leaders at the Microsoft AI Tour in Bengaluru on Thursday. India is the fastest-growing market on GitHub, a Microsoft-owned software development platform, with 13.2 million developers using it.
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.
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.
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.
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 Healthcare has already filed five global patents for its design.
Initially, private buyers will be able to make bulk purchases on Government e-marketplace, it will subsequently be broadened to small-ticket buying as well.
General Electric company plans to convert its two arms in the country into wholly-owned subsidiaries even as it will expand activities of a third company, GE Power Controls India.
India's IPR framework and enforcement were comparable to those in developed countries
Acknowledging India's prowess in information technology, GE Aircraft Engines has said it intended to develop software for digital electronic control systems for helicopter engines in this country as part of its long-term strategy.
The company's multi-modal, $200-million Pune manufacturing plant is expected to go on stream by mid-2014.
Six months into his new role, Vishal Wanchoo, president and chief executive officer, GE, South Asia, speaks to Jyoti Mukul about how its horizontal business lines of additives and digital are playing across its verticals.
The top-notch faculty at Crotonville, including Noel Tichy, Ram Charan, Vijay Govindarajan, along with GE's top leaders Jack Welch, Gary Reiner, Bill Conaty, Jeffrey Immelt and Susan Peters, together delivered sought-after programmes on leadership to generations of early-stage leaders, mid-tier and senior managers from all over the world, recounts Indrajit Gupta.
"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.
The United States India Business Council has conferred the USIBC 30th anniversary jubilee award for 'The US Company Contributing Most to the Indo-US Commercial Relationship' on US giant General Electric.
The facility will extend the firm's Latin American presence. Genpact will provide services to GE Money from this facility. The facility was officially opened in July by GE Money and BAC/Credomatic. The centre will initially accommodate more than 700 professionals and has the capacity to grow to approximately 2,000.
Days before Diwali, the monthly economic review by the finance ministry has highlighted moderation in urban demand, softening consumer sentiments and limited footfall as areas that need to be watched. In its review, released on Monday, the ministry also noted the early signs of artificial intelligence displacing workers, as described in anecdotal reports. The commentary from several large consumer goods companies, including Nestl India, Hindustan Unilever, and ITC, in their recent quarterly earnings, has been around a sluggish urban demand. Rural consumption, however, has mostly seen a revival, the companies pointed out.
GE has already exercised that right in Europe. It could do that here also. There are no free lunches. Not at least in GE. Anyway, for almost 40 to 50 per cent of what we do, there is no competition in India, says Pramod Bhasin, CEO, Gecis.
To boost domestic manufacturing under the Make in India initiative and reduce dependency on imports, the government is expected to announce in the Budget an increase in the minimum local content requirement for public procurement, with certain sectors being granted exceptions. Currently, firms producing goods, services, or works with at least 50 per cent local content are classified as Class-I local suppliers and are preferred the most in government procurement.
General Electric's largest multi-disciplinary engineering and technology centre outside of the US, The John F. Welch Technology Center (JFWTC) located at Bangalore, has launched a unique science and engineering that challenges the imagination and technical expertise of tomorrows inventors.
GE is also bullish on India's power sector and has chalked out plans in electricity generation from various sources such as wind, solar, gas, etc.
GE Commercial Finance, an arm of the US conglomerate General Electric, on Monday announced its plan to invest Rs 1,000 crore to expand operations in India.
Engineering and construction major Larsen & Toubro has signed a memorandum of understanding with the US-based GE Hitachi Nuclear Energy, one of the largest nuclear power plant vendors in the world, for the construction of nuclear power plants in India.
In an attempt to find a lasting solution for the troubled $2.9 billion Dabhol Power Project, GE said on Monday it was joining hands with NTPC and BHEL to restart it.
The development contract calls for GE Aircraft Engines to provide 17 F40 4-GE-IN20 engines, as well as logistics support, the company announced from Lynn, Massachusetts.
GE Consumer Finance, the global consumer-lending unit of the General Electric Company, will foray into banking in India in the next 18 months, a top executive of the company said on Thursday.
State Bank of India partnered GE Capital in 1998 for its credit card business.
Over lunch with Jyoti Mukul, Banmali Agrawala, president and CEO, GE South Asia, discusses how GE is transforming itself into a digital industrial company.
Air India will purchase 220 planes from Boeing for $34 billion, with an option to buy 70 more aircraft that could take the total transaction value to $45.9 billion, a deal that US President Joe Biden described as a "historic agreement". While announcing the Boeing-Air India deal on Tuesday, Biden also asserted that together with Prime Minister Narendra Modi, he was looking forward to deepen the ties between India and the US. As per an announcement from the White House, Boeing and Air India have reached an agreement under which the airline will purchase 190 B737 MAX, 20 B787, and 10 B777X for a total of 220 firm order valued at $34 billion at list price.
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