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.
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 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
GE, Alstom land $5.6 billion deals to supply Indian Railways
The company's multi-modal, $200-million Pune manufacturing plant is expected to go on stream by mid-2014.
In India, GE expects to grow its business by 20-30 per cent this year. It aims to increase its energy business in the renewable energy segment to $250 million in 2012-13, from $100 million this year.
"L&T was looking to provide reliable control systems offering for the rapidly developing power generation sector in order to complete its electrical and automation suite," L&T President Operations and member of the board R N Mukhija said. As per the partnership agreement, GE Energy would provide its power plant main control system products to L&T, the company said in a filing to the Bombay Stock Exchange.
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 Life Insurance Corporation of India is believed to be talking with GE Capital Services, the largest issuer of private label credit cards in the world, for a foray into credit cards.
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.
Godrej Aerospace is a tier-1 manufacturer of precision and hi-tech aerospace components, assemblies, and systems, executing global projects that serve the defence, space, and aviation sectors.
With warring parties thrashing out a settlement over Dabhol Power Company, multinational power majors GE and Bechtel on Tuesday
Govt awaits GE, Bechtel response on DPC
GE Commercial Finance, which has an asset base of more than $230 billion globally, is planning to increase its exposure in the Indian market.
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.
In the event of a war with China, AMCA deep strikes would target China's rail and road links with Tibet, isolating PLA divisions there.
GE Healthcare, a unit of General Electric Company, is eyeing $1-billion sales in the South Asian market over the next five-years, a top company official said.
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.
Here are list of some of the big ticket announcements.
US-based General Electric, which along with Bechtel controls 85 per cent stake in the beleaguered 2,184-MW Dabhol Power Company, is open to sell its equity but wants its claims to be settled first.
Applications are invited from young scientists for the 2011 GE & Science Prize for Young Life Scientists. Established in 1995, the prize recognizes outstanding young scientists from around the world who have completed their PhDs in the area of molecular biology during 2010.
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.
HAL has integrated the ASRAAM (advanced short range air-to-air missile) for the Tejas Mark 1A. The Tejas Mark 1A will carry twin ASRAAM missiles with a range of 60 to 70 kilometres.
India is also likely to sign a deal to buy MQ-9B Predator armed drones from US manufacturer General Atomics.
Restarting Dabhol Power could face fresh hurdles with its two stakeholders, Bechtel and GE, demanding full recovery of their investment in the project, lying idle for more than 24 months now.
In a significant development, GE and Bechtel, minority share holders in Enron-promoted Dabhol Power Company, have agreed to extend unconditional support for restarting generation of power from the project, lying idle for over 20 months.\n\n\n\n
GE's India head reflects on his hits and misses and shares his plans to return soon.
National carrier Air India and GE Aviation will together invest USD 90 million to set up a maintenance, repair and overhaul (MRO) facility to cater to the latter's GEnx-1B engines.
US conglomerate General Electric on Wednesday said it is planning to foray into the banking sector in India through acquisitions of an existing bank or by setting up a subsidiary of its own.
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.
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