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Home arrow News arrow Business News arrow GE Capital targets Exponential Increase in Leasing Business from India
GE Capital targets Exponential Increase in Leasing Business from India Print E-mail
Written by Vijay   
Tuesday, 08 November 2011
Mumbai: GE Capital announced today that the company is expanding its leasing business in India and aiming for exponential increase in leasing business volume in 2012. GE Capital India is entering into new leasing asset areas and expanding its existing presence in the automotive and equipment leasing for corporate organizations.

"We have an enhanced lease offering for our automotive customers. We also now offer leasing solutions for a large variety of equipment including manufacturing and material handling equipment, industrial equipment, technology and office equipment," said Sameer Maheshwary, Senior Vice President, Leasing, GE Capital India.

According to industry experts, leasing constitutes approximately 2% of capital formation in India compared to the 17% in the USA and 10% in Australia. Leasing provides a convenient and flexible finance option to companies. When working with a strong leasing partner, leasing can reduce the administrative burden with a flexible end-of-term option of redeploying the asset.

With increasing challenges of rising cost of fund, leasing provides an alternative means by which companies can fund their capital expenditure without the need to leverage their balance sheets. With the projected growth of middle tier corporates and large multinationals in India, industry experts predict a double digit growth in the leasing market over next three years.

With the renewed focus on leasing, GE Capital will work closely with manufacturers and end customers in India to provide them with new and innovative structured financial solutions in the areas of operating leases, finance leases and hire purchases. GE Capital India will continue to work closely with GE Healthcare for leasing solutions and will expand its lease offering to other GE businesses such as Energy and Transportation.

"Commercial leases contribute a significant portion of GE Capital’s commercial book size globally. We are combining our global leasing expertise with our knowledge of the Indian market to bring relevant offerings to mid-sized and large local and multinational companies," said Anish Shah, President & CEO, GE Capital India.

Last Updated ( Tuesday, 08 November 2011 )
 
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