GE Investing Huge Money in India

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General Electric, the iconic American company, is investing $200 million in a new manufacturing facility in India.

From the story in The Economic Times:

US-based General Electric on Monday said it would invest about $200 million for setting up a infrastructure equipment manufacturing facility in India and would recruit over 3,000 people for the same this year.

“Initially we would invest $50 million for setting up the manufacturing facility… total investment will be $200 million, including after expansion, and the company will take a call in the next 3-6 months,” GE Chairman and CEO Jeffery R Immelt said.

Immelt leads President Obama’s Council on Jobs and Competitiveness.

– The Editors