General Electric Hopeful of Health Care Business in India

Health Care is always a big issue in USA. The main problem is that there, many people cannot afford good treatment as treatment and insurance both are expensive. These things are expensive because technology is expensive. So, what is needed is to develop products and services that can be inexpensive. For this, General Electric (G.E.) Chief executive, Jeffrey R Immelt thinks that India can be an important place to innovate new health care products and services and then these things can be brought to USA. This way, American people can get better health care facilities at a cheaper price.

Right now, G.E. just get a mere $3 billion revenue from Indian market. The potential is immense here for the US company. Indian economy has seen high growth for the last one decade and it has increased the income of the people. So, average people can spend some more money for this sector and the health care industry will grow in the country at a frantic pace in the next one decade. G.E. wants a pie from this market.

Thus, Jeffrey R Immelt has killing two birds with one stone in his mind. On the one hand, he wants that his company can innovate new technology for US market from India. On the other hand, he wants his company to earn more money from the Indian market.

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NY Times