US-based diversified conglomerate General Electric Co says the huge talent pool and lower manufacturing costs in India will drive the company's plan to make the country a manufacturing hub for its global markets.

Banmali Agrawala, President and CEO, GE South Asia, said its coming plant at Chakan, Pune, is the first major step towards this direction.

"The Chakan plant is expected to be operational by the middle of next year. We will use the facility to manufacture a range of products for our global markets," he told reporters in HYderabad recently. The Rs 1,000-crore plant will produce diversified equipment for the aviation, energy, oil and gas and transportation sectors.

The $150-billion revenue multinational, which has interests in capital goods, technology and financial services, is now present in 164 countries, earning more than $1 billion revenue each from at least 40 countries and more than $100 million from 60 countries. Agrawala said GE will also start exporting healthcare devices from its Bangalore plant as part of the strategy to make India a manufacturing hub.

The Bangalore plant will make an array of "super-value products", including ultrasound machines, ECG units, maternal and infant care equipment, which will be exported to Africa, Europe, Latin America and Asia.