The world's biggest industrial conglomerate General Electric is undeterred by a slowdown in the US economy as the group expects any weakness in the home market to be offset by fast growing sales in countries like India and China.
"The fastest growing countries for us are the emerging economies including China, India, Russia and Latin America. In these regions, we have annual revenues of about $32 billion and the figure is growing at around 20 per cent a year," GE Chairman and Chief Executive Jeffrey Immelt told
Financial Times in an interview.
Unfazed by the weakness triggered by the subprime credit crisis, Immelt said: "outside the US, particularly in China and India, economies appear strong.. In the world as a whole, there is still a lot of liquidity."
"Taking into account the emerging economies and also the more mature markets outside the US, I can see our sales expanding outside North America for the next few years by 10-15
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