General Electric Co. is now very excited about its prospect in Asia. In 2005, GE could manage a revenue of about $1.1 billion and now GM has set a target of revenue of $8 billion by 2010. GE's Chairman and Chief Executive Jeff Immelt today announced this target while talking with businessmen in the city of Mumbai. This is a big surprise to many observers since GE last year talked of a target of $5 billion of revenue by 2010. So, the new target is $3 billion more.
On the other hand, GE is expecting that in the next 4-5 years GE's revenue in China will double. In 2005, GE earned $5 billion from the Chinese market and thus by 2010 or 2011 it will become $10 billion. So, by 2010, China and India will become very important for GE. Jeff Immelt is very keen on making the best of what Asian can give. He has realized it very well that Asia and especially India and China have a lot to offer to western companies because of the fact that the economy of these two countries are growing very rapidly compared to the western countries.
GE is planning to make more investment in India and China especially on involving the workers in India and China in R&D and product development from now on. This shows that the high quality attained by the workers of these two countries. The other major companies of the western world now should become aware of the opportunities that the markets of India and China can offer.
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India and China are two of the promising economic powers of Asia that have very profitable market to focus on. Just imagine the sheer size of their population. What more if all of them had the capacity to buy most of the things they need and want? I think these two when combined can even exceed the spending power of US.
Posted by: nepspeed82 | May 30, 2006 1:50 PM | Permalink to Comment