United Technologies hopes to take on GE in India

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Global manufacturing conglomerate, United Technologies wants to take on GE in India. A substantial chunk of its USD 2.8 billion global R&D budget could find its way into India, reports CNBC-TV18.

Jet engine maker Pratt & Whitney, airconditioning and refigeration major, Carrier Corp as well as the world's top elevator maker, Otis - all these companies are part of the diversified US manufacturer United Technologies.

The booming Indian economy seems to have warranted a visit form Louis Chenevert, the President and COO. While United will consolidate its presence in the aerospace, airconditioning and defence sectors, it will also venture into the energy field.

The company is looking at introducing its clean fuel technology in India. United also has a 14.16% stake in Hyderabad based listed entity Infotech Enterprises but is not looking at upping that stake. It registered revenues of over USD 300 million in India last year, and expects a double digit growth in 2006.

Sales from Asia for United are likely to touch USD 1 billion this year. India is likely to get a substantial chunk of United's USD 2.8 billion global R&D budget. While Carrier Corp and Otis have manufacturing operations in India, Pratt & Whitney and Sikorksy so far have only corporate offices.

But with India figuring in United's list of top five emerging markets, the company could be looking at using India as a manufacturing hub for aircraft components. While United is tightlipped on its investment plans, India's emerging aviation market could be a priority area.