GE’s Bi­har Project is Go­ing Ahead, says CEO

The Economic Times - - Companies & Economy -

Gen­eral Elec­tric CEO Flan­nery told ET Now’s Nayan­tara Rai he’s been as­sured the com­pany’s lo­co­mo­tive project in Bi­har is go­ing ahead. He was speak­ing in the US af­ter a meet­ing with fi­nance min­istry Arun Jait­ley. Edited ex­cerpts:

What did you dis­cuss with fi­nance min­is­ter Arun Jait­ley? We have been in In­dia for over a 100 years. I am a huge fan of the coun­try. We have got large, grow­ing in­vest­ments there in re­search cen­tres, man­u­fac­tur­ing. We have al­ways had a strong opin­ion on the econ­omy. We (with Arun Jait­ley) re­ally were just dis­cussing things we can do to work to­gether. The gov­ern­ment con­tin­ues to have a re­ally prag­matic, in­vest­ment-ori­ented ap­proach. We talked about re­forms, reg­u­la­tions, things like that. It only un­der­scored and re­newed my con­fi­dence in the coun­try.

There has been that one big or­der that has been in the news of late. Is it go­ing to be can­celled, not can­celled, is it go­ing to be de­layed — any up­date on that? Just the as­sur­ance that the project is go­ing to go ahead. GE is do­ing its part and the gov­ern­ment will do their part. So, good dis­cus­sion on that.

Be­cause if that does not go for­ward, it is not go­ing to look good for In­dia glob­ally. I would imag­ine that’s what has been said by GE ear­lier. We have ev­ery ex­pec­ta­tion that ev­ery­thing will go for­ward. It is a hy­po­thet­i­cal ques­tion, we do not ex­pect that to be the case at all. Are you look­ing to step up in­vest­ments in In­dia? Yes, we con­tinue. I think in our health­care busi­ness, in our avi­a­tion trans­porta­tion… we have got a man­u­fac­tur­ing fa­cil­ity in Pune — that con­tin­ues to grow. I think we will ex­pand that. You will see us con­tinue to in­vest heav­ily in In­dia.

As you take over, what are your top pri­or­i­ties at GE Grow our busi­ness in In­dia and every­where else around the world. It is an in­cred­i­ble com­pany.

You have big shoes to fill… I do ab­so­lutely… but I look for­ward to it.

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