Prime Minister Narendra Modi, on Saturday, assured global investors that the government’s reforms push would continue and there would be predictability in policies.
He was speaking after inaugurating the first manufacturing plant of American multinational General Electric here.
The new facility will manufacture a range of diversified products for sectors such as energy, aviation, oil as well as gas transportation.
Multi-model facility This multi-modal facility will support GE’s global operations as well as cater to the growing domestic demand.
To support the Prime Minister’s ‘Make in India’ initiative, GE Vice Chairman John Rice announced the second phase expansion of Chakan unit by saying that it was a testimony to GE’s commitment to the Indian market.
Thanking GE for committing additional investment in India, Mr. Modi said: “This will give a boost to the ‘Make in India’initiative. I welcome all global investors to invest in India, and I am assuring you that your products manufactured here will be globally competitive.”
The Prime Minister also urged GE to participate in the defence production programmes of the government as well as that of modernisation of the Indian Railways.
$200 m investment Including phase II, GE will have a total investment of $200 million in India, and it will also explore possibility to invest in the railway sector.
In the first phase of operations, the Chakan facility is focused on products and solutions for the power generation, oil as well as gas and transportation industries. In the second phase. the unit will include manufacturing capability for new generation aviation engine components and sub assembly for the latest rail locomotives and diesel engines.
Export hub Spread over 68 acres, the new facility will generate employment for 1500 people and many local suppliers.
Fifty per cent of the products manufactured from this unit will be exported to other GE global sites, the company said. This is GE’s most advanced facilities bringing together automation, the industrial internet and 3D printing.
