MUMBAI, May 30 (UPI) -- General Electric Company seeks to boost Indian business revenue by $8 billion by 2010, its chief executive announced Tuesday.
Addressing Mumbai's Chamber of Commerce and Industry, GE chairman and CEO Jeff Immelt expressed his interest in India as an important market and publicized plans to invest $250 million in Indian infrastructure and healthcare projects.
"The second big focus we are going to have is to dramatically increase the footprint in financial services in India," he said.
Discussing GE's top priority to readjust strategies to work in the booming Indian industry, he said another $100 million would be added to the company's development fund.
Saying that markets in India have not grown as much as they have in China over the past year, Immelt emphasized the continued importance of both markets as major players in the global sphere.
He was optimistic about GE's future input into the country, despite
challenges posed by the Indian government's restriction for ownership of banks.
