Mumbai: Jack Welch, the former CEO of General Electric, didn't come to India in the late 1980s to sell outsourcing. He had jet engines and plastics on his mind. But meetings with top Indian government advisors and CEOs quickly convinced him about India's invaluable status as a low-cost, offshore destination for outsourced services. A series of decisions led to the creation of Gecis (today's Genpact) and the rest, as they say, is history.
Today, GE is also unrecognisable from the company Jack Welch ran in the late 1980s. From an industrial infrastructure powerhouse, it became a financial services giant in the boom years of 2002-2008 and is now on the threshold of another big change, a revolution in complex algorithms, sensors and communication that will make machines smarter and trigger big productivity gains. GE still makes those big machines that require millions of dollars of investment such as the wind and gas turbines, the jet engines that power the A380s and medical equipment which fight and detect cancer. But in the coming years, these machines will become smarter, be able to talk to each other and provide massive amounts of data for GE analysts to pore through and detect possible problems and dangers.
25/11/13 R Sriram/Economic Times
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Today, GE is also unrecognisable from the company Jack Welch ran in the late 1980s. From an industrial infrastructure powerhouse, it became a financial services giant in the boom years of 2002-2008 and is now on the threshold of another big change, a revolution in complex algorithms, sensors and communication that will make machines smarter and trigger big productivity gains. GE still makes those big machines that require millions of dollars of investment such as the wind and gas turbines, the jet engines that power the A380s and medical equipment which fight and detect cancer. But in the coming years, these machines will become smarter, be able to talk to each other and provide massive amounts of data for GE analysts to pore through and detect possible problems and dangers.
25/11/13 R Sriram/Economic Times
