When General Electric Company, the worldâ€™s second-biggest company by market value, received $145 million as settlement for its turbines that powered the jinxed Dabhol power project in India, the American giant decided to reinvest the money in the country.
It did not lose faith after the bad experience. Instead it topped the figure up with an additional $100 million.
But all this is spare change for the mega corp. GEâ€™s chairman and chief executive Jeff Immelt said in Mumbai on Tuesday that he envisages an â€œ8x8x2010â€? plan for GE in India. Translated, it means generating $8 billion revenues and creating $8 billion assets in India by 2010.