"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 electric scooter juggernaut which has been picking up momentum with heady growth month-on-month is now slowing down. The combined number of registrations in April of eight electric two wheeler companies has seen a dip of over 1 per cent to 43,061 vehicles, according to data from the Ministry of Road Transport & Highways' site VAHAN. The reasons are the continuing shortage of chips, especially after the Ukraine-Russia war, and the spate of fires which have led to scooters being recalled by manufacturers.
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.
'Our factories are world-class and are becoming increasingly attractive for our global business leaders to use to serve other markets.'
The Tata Group has been named the world's eleventh most reputed company, according to a study compiled by United States-based Reputation Institute.
China accounts for 90% of imports of mobile phones to India.
Several Indian units of American technology companies have filed more than 1,000 patent applications with the US Patent and Trademark office, a media report said on Tuesday.
After a spike in crude oil and gas prices in October following the Hamas terror attack, prices eased down 9 per cent month-on-month in November. The Organization of the Petroleum Exporting Countries (Opec) and Opec+ agreed to a further voluntary production cut in January-March 2024 to try and support global crude prices. The best guess here is that crude prices (currently at $75/barrel, or bbl) will not likely cross significantly above $80, and gas prices are also likely to remain subdued unless there's a further escalation in the Israel-Hamas conflict.
Jeffrey R Immelt, chairman and chief executive officer of GE kickstarted the initiative.
The power sector is always strongly correlated to economic activity and is receiving its share of investor attention as India's post-Covid-19 recovery continues. India's leading integrated power producer, the public sector undertaking (PSU) NTPC controls around 25 per cent of India's power capacity. It continues to increase installed capacity, in thermal as well as renewables (solar, wind, green hydrogen) and hydropower and pumped hydro, and also has backward integration into coal mining, and explored nuclear.
Contrary to perception, the cost of nuclear power based on imported fuel and equipment will be "comparable" to that from the conventional power plants, says Shreyans Kumar Jain, chairman and managing director of the Nuclear Power Corporation of India.
It's all eyes on the consumer durables sector during the festival season after a weak Q1FY24 and Q2FY24 was impacted by an erratic monsoon. Traditionally, this period sees the highest number of purchases. Dealers and manufacturers are complaining about low business-to-consumer (B2C) off-take during the first half.
Public-sector enterprise stocks have seen a good run thus far in 2023-24 (FY24), with the S&P BSE PSU Index surging by over 26 per cent during the period, compared to an 11 per cent increase in the benchmark S&P BSE Sensex.
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.
At a meeting convened by Power Secretary VS Sampath later this evening with a team of officials from General Electric, the US-based company, which has supplied six gas turbines at Dabhol, has agreed to start negotiations on the Contractual Service Agreement of the project, according to official sources. The Dabhol power plant has three blocks with six gas turbines. However, only three turbines are functioning at present.
'If private capex has to kick in, there should at least be 2-3 years of visibility.'
A broken system is driving our best-educated foreign workers -- talent desperately needed by U.S. companies -- to Europe, India, and China.
This was decided at a meeting between State Energy Minister Dilip Walse-Patil and executives of General Electric, which had supplied power equipment to the erstwhile Dabhol Power Company. During the meeting, GE executives assured the minister that by the end of this month, the Block-I, currently lying defunct, would start generating around 600 Mw.
Automobile manufacturers are likely to report strong numbers for the September quarter of Financial Year 2023-24 (Q2 FY24), riding on growth across segments and offset by a marginal drop in overall two-wheeler (2W) volumes. Higher average selling price (ASP) year-on-year (YoY), which was necessitated by price hikes taken by original equipment manufacturers (OEMs), and an improved product mix will also aid revenues and margins. Moreover, commodity prices are down on a YoY basis, leading to higher margins in earnings before interest, taxes, depreciation and amortisation (Ebitda).
Infosys Technologies has been inducted into the Global Most Admired Knowledge Enterprises (MAKE) Hall of Fame.
'AI may perform tasks, but deep expertise and specialisation remain uniquely human.'
In a recently published report the New York Daily News said that mega American companies like Microsoft Corp, General Electric and American Express are moving thousands of customer service call-centre jobs to India.\n\n\n\n
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.
Maruti Suzuki India (MSIL) has ambitious plans to increase capacity. It is also seeking shareholders' approval for a complex swap transaction, which would acquire Suzuki Motor Gujarat (SMG), a subsidiary of Suzuki Motor Corporation (SMC) through a preferential offer. SMC already holds 56.37 per cent of MSIL's equity.
India does not have the facilities needed for developing advanced aerospace products. There is only one wind tunnel in the country, the almost six decade old one in the National Aeronautics Laboratory.
As the curtain falls on the campaign for the Thiruvananthapuram Lok Sabha seat on Wednesday, April 24, a ringside view of the closing ceremonies.
Rajasthan is reeling under a huge financial burden with the state's debt having gone beyond Rs 5.59 lakh crores. Rajasthan has increased expenditure on education by 203.4 percent, by 105.4 percent on health, by 227.14 percent on housing. Its expenditure on social welfare schemes has increased by almost 2,475 per cent.
