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Jun 15, 2012, 10.47 PM IST | Source: CNBC-TV18

GE bullish on India, asks for govt policies to boost growth

Global giant, General Electric believes that the Indian government needs to implement the right policies for India to grow. Speaking to CNBC-TV18's Kritika Saxena on the sidelines of the MoU signing of its largest plant in the country in Chakan, John Rice, the vice chairman of GE says that India must be seen with a broad brush.

John Rice, VC, GE

Global giant, General Electric believes that the Indian government needs to implement the right policies for India to grow. Speaking to CNBC-TV18's Kritika Saxena on the sidelines of the MoU signing of its largest plant in the country in Chakan, John Rice, the vice chairman of GE says that India must be seen with a broad brush.

Below is the edited transcript of the interview on CNBC-TV18. Also watch the accompanying video.

Q: Are you looking at long-term investments in India?

A: We are absolutely a long-term investor, that's why we are here today. But it's also very important that the government make necessary decisions. The policymakers promote the right policies so that this country can continue to move forward. We always take long-term view on an investment like this. We are very bullish on the long-term prospects for India, but there are some important decisions that need to be made.

Q: The retrospective amendment has been a little bit of a dampener, we have been talking about it, global investors have been talking about it. Form your point of view do you think that kind of bring down the foreign investor appetite in India?

A: Certainly, if it happens, it would not be something that many companies would be happy about. We would maybe encourage a different path, but in the end we have to look at India with a broad brush. There are many factors that go into considering an investment. We believe that government should concentrate on the positive policies that attract and promote investment. The one you described would not necessarily do that.

Q: You are bullish on India regardless of the issues that we may have been witnessing?

A: We have to take a long-term view. Our company has been around for 130 years and we are thinking about the next 130 years.

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