GE sees India revenue rising more than 30 percent

General Electric Co expects its revenue in India to rise more than 30 percent this year, its chief executive for the country said on March 31, as demand for energy and healthcare products remains strong. GE, which makes goods ranging from jet engines to medical diagnostic equipment, plans to add between 3,000 and 5,000 staff in the next two years in India, John Flannery told Reuters.
-- Plans to add 3,000-5,000 staff in two years: India CEO
-- Sees strong growth in energy, healthcare, transport biz
The company already has 14,000 employees in Asia's third-largest economy.
"We find the climate to be very strong," Flannery said in an interview. "We have set a target to grow 30 percent a year and we are in excess of that number right now."
In January, Fairfield, Connecticut-based GE posted a better-than-expected quarterly profit, helped by strong emerging-market demand for heavy equipment.
The world's biggest maker of electric turbines and jet engines has been boosting its presence in big emerging markets such as China and India, which have been snapping up its industrial goods.
Flannery said GE, which installed India's first hydro power plant in 1902, grew its revenue by more than a third in 2010 as orders for its products rose significantly in a rapidly growing economy, but declined to give current sales numbers.
GE sees strong demand for energy and healthcare products as well as aircraft and locomotive engines in India, he said, adding the firm is setting up a new plant in India with an investment of up to $200 million mainly for energy components.
India plans to spend $1.5 trillion in the 10 years to 2017 to revamp its creaking infrastructure, seen as a brake on the country's economic growth.
GE is still pursuing nuclear energy investment in India, Flannery said, despite Japan's worst-ever nuclear power crisis raising doubts about the nuclear power industry globally.
"It's very early days. I would say right now, I think globally everybody's stepping back just for a moment to understand, first of all to help Japan and make sure Japan gets the support it needs whether that's financial or technical."