General Electric to invest Rs 300 cr in Bangalore
Bangalore: GE India Thursday said it will set up a research and development labs and expand its technology center here by investing over Rs 300 crore.
The new investment is focused on expanding GE's India Technology Center here to include experimental labs and its infrastructure showcasing leading-edge research and engineering in a number of areas of critical importance, company officials announced on the sidelines of the Global Investors Meet, 2012 organised by the Karnataka government.
It would include research and engineering in cancer treatment, radiochemistry and other technology applications in healthcare, locomotive engines, heavy earth moving equipment and equipment for the energy sector, they said.
Set up in September, 2000 here, the center is GE's first and largest integrated multi-disciplinary research and development and engineering centre outside the US.
Investing heavily in advanced information technology enabled laboratories, the centre leads in engineering innovation across GE's diverse businesses.
"India holds immense strategic importance in GE's overall growth plans. The new investment will further strengthen our efforts to partner the State of Karnataka and provide best in class products and localised solutions for the people of India," GE India President & CEO John Flannery said.
Elaborating on GE's presence in the state, Gopichand Katragadda, MD, GE India Technology Center said, "GE's journey in India started with Karnataka and has over time harnessed the highly talented workforce in the state and enabling regulatory environment to strengthen its research, innovation and engineering capabilities across disciplines."
GE's India Technology Center consists of over 4,000 employees. Over the last decade, the work done by employees at the Centre alone has contributed to over 1,500 patents being filed by the parent General Electric Company.
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