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ShareINDORE: Following its massive investment in China's infrastructure development, one of the largest investors of property worldwide, General Electric Real Estate would invest $500 million in the next three years in real estate and infrastructure projects in India.
"Our infrastructure growth plans will consist of a mix of building townships and other facilities," GE India president and chief executive officer Scott Bayman told DNA Money on the sidelines of the convocation ceremony of Indian Institute of Management Indore.
"We will be exploring investment opportunities in other asset types throughout India, including retail, hotel, office and industrial properties. We have a big real estate business and we have our plans in investing in the real estate and infrastructure development. In the coming three years we would be executing those plans and India would see expansion of GE in the real estate," Bayman said.
GE would also explore more options in power sector. "We have concern for power sector growth as no economy can prosper without adequate energy. We are also the big consumer and producers of power. Hence we are toying with the idea of investing in the alternate sources of energy like the wind energy," he added.
GE will also look to invest heavily in its water treatment projects. We are tying up a number of small-specialised companies for wastewater treatment, desalination projects and removing arsenic fluoride from water. "I feel waste management projects have great business potential not only in India but world over," he added.
GE is looking at India as a global supply base of its aircraft engines proposition. "The Indian aviation sector is booming and GE which has already sold more engines than anybody else will surely look to improve on that."
On the threat to Indian outsourcing industry from newcomers like Sri Lanka and Bangladesh, Bayman said "Indian BPO industry can match the challenge by increasingly providing high value customer service and by competitive pricing."
He said GE looks at India as the fastest growing region among its world growth plans and is keen to expand and grow all its business in the country.
China is another country in GE's growth radar as revenues from that country have more than doubled in the last couple of years. "We feel China is ahead of India by five years but India is also fast catching up," Bayman averred.
