New Delhi: GE India is massaging its image by reinvesting $145 million it got to settle the Dabhol dispute.
Scott Bayman, has been GE India chief since 1993 and knows many things about managing the group's image.
As an investment, the $145 million or Rs 625 crore of Dabhol dispute settlement money is significant, but not large by GE standards.
GE has invested much more in its ventures since 1992.
In October, it announced investing $63 million in an IT Parks Fund.
According to Scott Bayman, President & CEO, GE India, "GE is putting the Dabhol settlement award in the India Development Fund it has just set up to fund projects developed by GE's strategic customers to which it can transfer its best practices."
GE is currently earning revenue of $800 million in India which it wants to take to $3 billion by 2008.
For a group that is in India for the long term, it it important to not only make money, but also look good.
However, the company sees opportunities in power generation, healthcare, consumer and industrial, security and water and process technologies business.
The company says would also intensify its presence in India across several areas.
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