"As India looks to fulfil its many demands, there will be one GE with the answers"

In late 2002, during his first visit to India after taking over as CEO of GE, Jeff Immelt said something that, in five words, summed up GE's experience (as indeed the experience of other large multinational conglomerates) in India. "The market will be elsewhere," he said, a reference to "promising but tough" local market conditions, better market opportunities elsewhere, notably China, and the Indian arm's main focus of being a service provider and source of products to the company's global operations. Now, just before he starts a visit, his second after taking over as CEO, to India, the man strikes a more bullish note on the country in response to an e-mailed questionnaire from BT's Arnab Mitra. Excerpts:

On India: As GE looks abroad to fuel greater growth for the company, we continue to see India as a rising star.

On why the company thinks 2005 is the year: We think we're at the beginning of a growth cycle in India, with consumer spending increasing at a healthy pace. We believe that GE products are the right fit to meet the needs of a booming marketplace.

On the India focus of the company: We believe that only GE can fulfil the increasing demands of the Indian market. GE has been in India since 1902, we currently have a $600-million (Rs 2,640-crore) investment in the country and employ 22,000 people (including BPO). We think the best opportunity for both India and GE lies in what we call One GE, a platform to realise the power and value of several GE businesses and technologies in a single value proposition.

On the company's businesses that have opportunities in India right now: Our best opportunities are most likely in the transportation, energy, healthcare, financial services, water treatment, security and advanced materials arenas, huge prospects as India grows and flourishes on the world stage. As India looks to fulfil its many demands, there will be One GE with the answers.

On whether this means there will be a shift from the company's approach of using India as a source of knowledge, expertise and outsourced services: We also fully realise India's huge pool of intellectual talent. Indian scientists, researchers and engineers keep our technology centre one of the premier research institutions in India-and the world.