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.
Sales of total electric vehicles in India are expected to be around 10 lakh units this year, equal to what was sold collectively in the last 15 years, mainly riding on the good traction witnessed by electric two-wheelers, Society of Manufacturers of Electric Vehicles (SMEV) said on Thursday. In 2021, the sales of electric two-wheelers (E2Ws) in the country jumped over two-fold at 233,971 units driven by a good traction of high-speed scooters as compared to 100,736 units in 2020, SMEV said in a statement. "We haven't seen better days than the last few months in the entire EV journey.
The US economy is suffering its steepest downturn since at least the 1970s and could descend into a depression, Jeff Immelt, General Electric's chief executive, warned on Thursday.
For nearly seven years, Bhatia served in the first and second George W Bush Administrations, first in the department of commerce and then in the department of transportation, before finally enjoying a more than two-year stint as deputy US trade representative, the senior-most administration position ever served by an Indian American, before he resigned end October last year, to return to the private sector.
The headline for corporate profit growth has been very encouraging in the July-September quarter (Q2) of 2023-24 (FY24), with the combined net profit of listed companies up by 38 per cent year-on-year. However, the earnings distribution has been very lopsided, with most of the growth coming from public-sector oil-marketing companies (OMCs), banks, non-bank lenders, automobile (auto) companies, and cement producers. By comparison, companies from information technology services, fast-moving consumer goods (FMCG), retail, and consumer durables were disappointed, experiencing a sharp slowdown in net sales growth and a relatively muted increase in reported net profit.
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.
A broken system is driving our best-educated foreign workers -- talent desperately needed by U.S. companies -- to Europe, India, and China.
Debt conversion formula will increase govt stake.
The company which had reported a sales of $2.8 billion (last reported figure) in 2007, however said it remained confident about the growth opportunities in India in the medium to long-term, owing to huge spending that is expected to happen in the infrastructure development.
A spokesperson attached to GE's Jack Welch Research Center in Bangalore said after the new people join, employee numbers in Bangalore would cross the 4,500-mark. GE's technology product research and development team is currently 3,800-people strong, with an additional 350 people employed in global research.
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.
As a General Electric employee working in business development in New Delhi, Dhruv Bhatia knew something about finance.
The Supreme Court on Tuesday told the Madras high court chief justice that the habeas corpus petition of Tamil Nadu minister V Senthil Balaji shall be decided by new bench expeditiously, and asked him to place the plea before three judges "at the earliest".
Garima Lohia, Uma Harathi N and Smriti Mishra secured the second, third and fourth ranks respectively in the examination, results of which were declared on Tuesday.
GE India managed revenues of $2.6 billion (about Rs 130 billion) in 2007 and is hopeful of meeting its target of $8 billion (about Rs 400 billion) by 2010. Key projects in the transportation and nuclear power sector are expected to help it reach that target, says Vice-Chairman John G Rice.
Sunil Mittal's race up these rankings to No. 2 marks a triumph of core competence over diversification in India.
Delhi Deputy Chief Minister Manish Sisodia, the party's Rajya Sabha members Sanjay Singh and Raghav Chadha as well as its Gujarat chief ministerial face Isudan Gadhvi also figure in the list shared with the media on Tuesday night.
Union Home Minister Amit Shah on Sunday accused the opposition Congress of harassing and insulting the Other Backward Classes during its rule at the Centre, and asserted that it was the Bharatiya Janata Party that gave the first OBC prime minister to the country in the form of Narendra Modi.
India believes in sabka saath, sabka vikas, sabka vishwas, sabka prayaas and walks ahead with it, Modi said.
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.
More than 70% of all corporate acquisitions fail to create value. But when done correctly, acquisitions can be valuable disruptive tools.
General Electric's technology centre in Bangalore helps the company grapple with technology and costs. Here's the lowdown on this low-cost but cutting-edge facility.
The strike notices were given by workers' unions of various sectors such as coal, steel, oil, telecom, postal, income tax, copper, banks and insurance.
Infosys Technologies has been inducted into the Global Most Admired Knowledge Enterprises (MAKE) Hall of Fame.
Aam Aadmi Party candidate Sushil Rinku on Saturday won the Jalandhar Lok Sabha by-election, defeating his nearest rival and Congress nominee Karamjit Kaur Chaudhary by a margin of 58,691 votes.
Disposing of separate applications by SBI Cards customers Arun Kumar Verma and Dileep Ayachit, CIC has directed the SBI to take a decision on setting up a proper information redressal mechanism within 15 days.
GE CEO Jeffrey Immelt and Vodafone CEO Arun Sarin will also keynote the Indian Institute of Technology 2007 Global Alumni Conference titled 'Transforming the World through Technology' in California next month.
Valued at Euro 35 billion, Nokia is the world's fifth most valuable brand, after Coca Cola, Microsoft, IBM and General Electric. With annual turnover at 3.6 billion euro, India contributed nearly seven per cent to Nokia's total global revenues of 51 billion euro in 2007. Nokia has invested $ 210 million for setting up a manufacturing facility in Tamil Nadu and the Indian facility is 1 of the best among 9 Nokia factories. It has estimated 100mn new phone subscribers in India.
In a response to the August 3 order, the Centre, represented by Solicitor General Tushar Mehta, said till the time either the legislature or the poll panel steps in, the top court must lay down "dos and don'ts" for political parties in the 'larger national interest.'
General Electric on Wednesday unveiled plans to raise at least $15bn in capital through stock sales to Warren Buffett's Berkshire Hathaway and the public.
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.
Investment banking sources said Reliance had made its desire clear to be a global petrochemicals major.
The world's biggest industrial conglomerate General Electric is undeterred by a slowdown in the US economy as the group expects any weakness in the home market to be offset by fast growing sales in countries like India and China. Unfazed by the weakness triggered by the subprime credit crisis, Immelt said: "outside the US, particularly in China and India, economies appear strong. In the world as a whole, there is still a lot of liquidity."
Prime Minister Narendra Modi on Monday gifted famous Indian tea to the captains of 11 large American corporations.
If you are interested in a career with GE Money, here is some information that will come in handy.
GE Money India said on Monday it is talking to big retailers including Bharti-Wal-Mart and Reliance for offering credit programmes such as the private label credit card it has provided to Tata Group.
'If private capex has to kick in, there should at least be 2-3 years of visibility.'
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