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| General Electric to build new trains for India's railways | General Electric to build new trains for India's railways |
| (about 17 hours later) | |
| General Electric has won a $2.6bn (£1.7bn) contract from the Indian government to build a fleet of new trains for the country. | General Electric has won a $2.6bn (£1.7bn) contract from the Indian government to build a fleet of new trains for the country. |
| The US-based industrial company said it would supply India with 1,000 new diesel trains over the next 11 years. | |
| The deal includes a $200m investment by GE to build new plants and warehouses. | The deal includes a $200m investment by GE to build new plants and warehouses. |
| GE chief executive Jeff Immelt said: "This infrastructure project is further evidence of India's position as a growth engine for Asia." | GE chief executive Jeff Immelt said: "This infrastructure project is further evidence of India's position as a growth engine for Asia." |
| The agreement is the largest that GE has reached with the Indian government in the 113 years that the company has operated in the country. | The agreement is the largest that GE has reached with the Indian government in the 113 years that the company has operated in the country. |
| The India government has been taking steps to improve the country's railways which are old and overcrowded. The country plans to spend $137bn over the next five years to modernise the system. | The India government has been taking steps to improve the country's railways which are old and overcrowded. The country plans to spend $137bn over the next five years to modernise the system. |
| The plan is part of Indian Prime Minister Narendra Modi's Make in India scheme. The programme is intended to attract foreign investment to boost manufacturing in India. | |
| GE has agreed to set up a manufacturing plant in the Marhowra district in the Indian state of Bihar along with maintenance sheds in Punjab and Gujarat. | GE has agreed to set up a manufacturing plant in the Marhowra district in the Indian state of Bihar along with maintenance sheds in Punjab and Gujarat. |