General Electric Company (GE) is investing $250 million in infrastructure and healthcare projects in India and expanding its industrial and financial presence in the country. Infrastructure projects are at the top of GE's agenda in India. In November 2005, GE announced it was reinvesting all of its proceeds from settlement of the Dabhol power project - valued at US$145 million - in Indian infrastructure projects and in equity stakes of projects sponsored by GE's strategic customers.

Speaking to the Bombay Chamber of Commerce and Industry, Jeff Immelt, CEO of GE, said, "India is a market set to realize its potential. The next ten years are critically important for India in terms of infrastructure and economic development as the country progresses toward becoming one of the largest economies in the world. Success will require depth in areas where GE excels: infrastructure and technology."

GE will be a partner in Dr Naresh Trehan's Medicity project, a world-class Integrated Healthcare Facility in New Delhi. Beyond financial investment, GE will also provide end-to-end early disease prediction, diagnosis and monitoring tools like advanced medical diagnostics, Cathlabs, anaesthesia systems and partner in clinical research and education programmes.

GE Healthcare is focusing on educating and implementing an early health model, while developing and introducing new products designed to meet specific Indian needs - delivering easier, earlier and more accurate care in locations with limited access to hospitals. GE is adding another $100 million to this GE India Development Fund. GE will invest the Development Fund in technological solutions to help India address its most pressing needs.

GE investments will lead to future phases of co-operation where research, design, financing, and service will take place locally in India, by Indians and for the Indian market.

GE is focusing on developing new products designed to meet specific Indian needs. For example, the "HF Advantage" X-ray system was developed at the John F. Welch Technology Centre in Bangalore. The HF Advantage is an affordable, general radiographic system providing outstanding image quality and diagnostic precision, while creating a safer imaging environment for patients and doctors with lower radiation doses. Another example is a hybrid technology model developed at the GE Global Research Center in Bangalore, which combines various forms of renewable energy to provide customized power solutions based on availability of local fuel resources. This is being used in GE's Rural Electrification Program in India.

The John F. Welch Technology Centre - a US$80 million state-of-the-art facility that is home to 2,200 scientists, researchers and engineers - is uniquely positioned to help GE realize this goal. "We are privileged to have a terrific pool of scientists and technologists and we plan to unleash their talent for the benefit of India and GE in India," Immelt said.

"GE has been doing business in India for more than 100 years," Immelt said. "We have been privileged to play a pioneering role in this market. India is now on the cusp of a new growth cycle - a dynamic transition to a 21st century marketplace where we want to grow our business."

Immelt stressed the company's goals are firmly aligned with India's objectives.

"Improving quality of life - through education, healthcare, and improved water availability - while stimulating economic growth with power generation, energy independence, transportation and agriculture reform, is the right path and righteous path," Immelt concluded. "We are pleased to join India at the threshold of increased economic progress."