More and more banks are sensing big opportunity in the high-margin, small consumer loans business.
Some major contracts coming up for renewal include TCS' deals with Star Alliance, a consortium of airlines based in Germany, and Nielsen; Infosys' deals with GE Appliances and Daimler; HCLTech's with UK-based life insurer Chesnara; Wipro's with German electric utility company E.ON and Petrobras of Brazil; and Tech Mahindra's with Circle Health.
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.
Several multinational medical device makers are focusing on deepening their presence in India by expanding their local manufacturing footprint and research capabilities, a move that can catapult India into a strategic hub for the medical technology (medtech) industry. Among those increasing their reach in the country are Siemens Healthineers and Philips, signalling a broader shift from India being only a sales destination to becoming a global production and innovation base.
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.
Over lunch with Jyoti Mukul, Banmali Agrawala, president and CEO, GE South Asia, discusses how GE is transforming itself into a digital industrial company.
Call centres, once the engine room of India's BPO exports, are evolving too. Depending on the complexity, 30 to 50 per cent of voice and chat volumes are now handled by conversational AI.
GE Money and international mortgage player Wizard announced on Thursday a joint venture 'Wizard Home Loans' that will offer 9.99 per cent interest rate on home loans to consumers. The prevailing market rate for is between 11 per cent and 12 per cent.
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.
GE Infrastructure India is aggressively looking at electrification projects
GE Healthcare Technologies on Monday said it is confident of doubling its annual revenues to $800 million in less than three years from its operations based out of Bangalore, a top company executive said on Tuesday.
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.
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.
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.
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, Alstom land $5.6 billion deals to supply Indian Railways
Some recent media reports have said that GE desperately wants to get rid of its appliances unit globally and is looking for a strategic partner. Asked about liquidity crunch, he said, "As of now there is no liquidity crunch but the next two quarters will hold the key. The government has taken some steps in the right direction and let's see what happens."
State Bank of India partnered GE Capital in 1998 for its credit card business.
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.
GE had also lined up aggressive investment plans for roads, airports, ports and real estate sectors.
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.
Godrej-GE Appliances which sold a faulty refrigerator has been held guilty of deficiency in service by a Delhi consumer court.
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.
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 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.
The exit of the big movers has meant more opportunities for local players such as Nambiar Finance, which is just one of the 1,465 non-deposit-taking NBFCs registered with the Mumbai office of the Reserve Bank of India.
Like the US, India too has a sub-prime market and it is booming. The success of early entrants like Citi Financial and GE Money has encouraged several others to enter the consumer lending business, nearly half of which is a sub-prime market.
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.
If you were thinking that by raising interest rates, the RBI is only trying to get stricter with credit card holders, think again
