At the India Economic Summit in New Delhi, John Rice, vice chairman of Fairfield, CT-based GE, said, “It is good to have manufacturing capabilities, but the true benchmark is to compete on a global scale. We export 50 percent of what we make in India and we believe that number should go even higher.”
Rice urged India to create a new export credit agency to boost exports. He also noted that it was imperative to create the right skill sets for the youth to get jobs and perpetuate a culture of productivity, reports The Hindu.
India already has two agencies for export finance and credit, the Exim Bank of India and the Export Credit Guarantee Corporation of India.
Last updated: December 26th, 2025
