GE plans to increase investment in India

"India is a very strong growth market for GE and we see good opportunities of growth. We are investing heavily in localising technology development here," GE Energy`s Measurement & Control-USA CEO, Brian Palmer, told PTI on the sidelines of an event here.

Apart from traditional growth areas of power, oil and gas, we see strong growth opportunities in steel, cement, automotive, aero space and power sectors, Palmer said.

GE has been a long-term local player in transportation, energy, healthcare and financial services.

"We are hiring extensively and we have an across-the- board headcount increase plans.," Palmer said, without giving any numbers.

The company has a significant footprint across key locations in the country with technology centres at Hyderabad and Bangalore. GE employs over 12,000 people in India. It exports over USD 1-billion in products and services.

"We are here to provide and work with local companies, help them with all products and technology solutions they need," he said.

Commenting on new product developments, Palmer said, GE is keen on developing products in the energy space as it is becoming more and more difficult to discover and produce oil.

The company is developing deep-sea and sub-sea technologies, which will help its customers` operations become more efficient and productive.

Palmer also launched Automation 2011, Asia`s leading exhibition showcasing technologically empowered machineries catering to industrial automation, factory automation, robotics, drives and controls, logistics, hydraulics and pneumatics.

India is one of the fastest-growing economies in the world. Infrastructure development is the key for the nation development and new technology will bring a definite change in the daily lives of population at large. India has the right mix of process industry that provides excellent growth opportunities for the entire spectrum of automation products and systems, Palmer said.