At present, General Electric's scale of sourcing and manufacturing from India is close to USD 2.3 billion annually out of which 50 percent of the products sourced in India are for its global supply chain.
Spread over 68 acres in MIDC Industrial Park at Chakan II, the facility will generate over 1,500 jobs and support the growth of local businesses, many of whom will be SME suppliers, the company said. The company did not divulge the investment details.
Outlook on India more positive after new govt took over: GE
India witnessed an unforeseen economic growth post liberalisation driven by demographic changes rapid industrialisation and a robust service oriented business environment.