Prime Minister Narendra Modi has inaugurated GE’s first multi-modal integrated manufacturing site at Chakan near Pune in India.
The facility named ‘Brilliant Factory’ will export 50 percent of its productivity to other global GE sites regularly. The investment details are not disclosed.
During the first phase of operations, GE will manufacture products and solutions for power sector, oil & gas and transportation industries.
In Phase II, the facility will comprise manufacturing capability for new generation aviation engine components and machining and sub-assembly for the latest rail locomotives and diesel engines.
“India is the fastest growing economy in the world with a GDP growth rate of 7.4 percent. I assure you that in the field of development and giving employment, there are a lot of opportunities here in India,” stated Modi speaking at the inaugural function.
India wants to move further ahead in manufacturing sector. The opportunities for manufacturing in India are immense. The country is blessed with demographic dividend, continued Modi.
He added that Railways sector in India needs to develop, get more technology, give speed, evolving as the driving force of Indian economy.
PM also urged GE as well as other global firms to invest in the defense sector as the government has increased the foreign direct investment (FDI) threshold in the sector to 49 percent.
Situated at MIDC Industrial Park in Chakan II, the facility is expected to generate over 1,500 direct and indirect jobs.
One of the advanced facilities owned by GE, the plant will integrate various activities like automation, industrial Internet and 3D printing.
In addition, the plant will work on the principle of ‘shared center of excellence’ on process, serving both domestic and export markets.
The Pune operations of GE are expected to enhance the resurgence of India’s manufacturing sector, further strengthening the country’s growth and development.
The plant signifies a milestone for GE’s technology and innovation partnership with India, which started over 110 years ago.
Sabeena Wahid
editor@greentechlead.com