GE shelves its $8bln revenue target; hopes to build 1 nuclear plant
New Delhi | Monday, Nov 9 2009 IST
 

General Electric Co (GE) today said it has shelved its target of achieving 8 billion dollars in revenue from India operations in 2010 but the company is hopeful of building at least one nuclear power plant in the country.

''We hope that we will get at least one site, order to develop that site,'' President and Chief Executive of GE India Bangladesh and Sri Lanka Tejpreet Chopra told reporters here on the sidelines of the India Economic Summit.

Global players are quite eager to tap the tremendous opportunity in the Indian nuclear sector after the US-India civil nuclear cooperation pact was given a green signal last year.

However, the company (GE) is also not focusing on its earlier target to achieve 8 billion dollars in revenues from India in 2010, Mr Chopra said.

''When the downturn happened, we reevaluated all our estimates.

We dont have that target anymore. We are not putting out any target anymore. There is so much uncertainty and volatility in the market,'' he said.

India had earned revenues of 2.6 billion dollars last year.

-- (UNI) -- 09DC4.xml

 

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