NEW YORK, September 12, 2008 - Speaking at Asia Society's New York headquarters, Tejpreet Chopra, president and CEO of General Electric, India analyzed the unique aspects of the Indian market, examining both the challenges and opportunities businesses face in entering and operating in the world’s second-largest country.
Emphasizing the importance of India's several hundred million-large consumer middle class, Chopra predicted that India will play an increasingly important role in the global economy. As GE's operations run the gamut from healthcare technologies and energy to financial services, Chopra described some of the strategies he has developed and employed as head of GE India to meet the varying needs of different sectors of the Indian economy. He also discussed how a company like GE can have a significant impact on the well-being of the large percentage of India's population still living in poverty, citing innovations like the Tata Group's Nano and GE's new portable electrocardiogram (ECG) as examples of how lowering production costs can simultaneously benefit both companies and populations by opening up new low-income markets prevalent in India.
Chopra also stressed that India is not only a huge potential consumer market but also a blossoming base for R&D and manufacturing operations for companies operating around the world.
Listen to the complete program (55 min., 54 sec.)