Narendra Modi meets America CEOs: Key facts

Written by ENS Economic Bureau | New Delhi | Updated: Sep 30 2014, 13:49pm hrs
Modi-CEOs meetPM Narendra Modi shakes hands with Ajaypal Singh Banga of MasterCard after a breakfast meeting with American CEOs in New York. (PTI)
Prime Minister Narendra Modi told nearly a dozen US company chiefs on Monday that he is committed to liberalising his country's economy, which has underperformed other emerging markets recently after years of breakneck growth.

Modi spoke at a breakfast with a galaxy of American corporate executives, including those from Boeing, PepsiCo, Google, KKR and General Electric, during his first US visit since coming came to power in May, vowing to get India's economy back on track.

Modi made a strong pitch to attract investments into India, and assured top American corporate honchos of tax stability and friendlier business environment in the country.

Here are the top companies that Narendra Modi wooed:

PepsiCo

Global food and beverage company with 38 bottling plants and 3 food plants in India.

Employs 6,400 people directly and another 2 lakh indirectly. Plans to invest $30 billion by 2020.

Carlyle Group

Has invested through its corporate PE and real assets segments in 12 companies that employ 47,000 people in India.

Globally has assets under management of $203 billion, of which 10 per cent is from Asia Pacific, as of June 2014.

Citigroup India

One of the largest FDI sources in the countrys financial services industry, with over $4 billion invested.

Employs over 9,500 workers and has 42 branches in 30 cities and operates 700 ATMs.

Merck & Co

The worlds oldest pharma and chemical company started its India operations in 1967. In 2013, Merck India, reported a turnover of Rs 772.96 crore and net profit of Rs 55.88 crore.

GE

In India since 1902. Research centres at 4 locations, has 13 local manufacturing and service facilities, new facility in Pune.

Has over 15,000 employees, of which more than 6,000 are engineers and scientists.

Cargill

The Indian subsidiary of the $134.9 billion American firm has three edible oil refineries at Paradip, Kandla and Kurkumbh (in Maharashtra).

Started in India in 1987 and currently employs 2,000 workers across the country.

Boeing India

Entered the Indian market over 70 years ago and has a presence in both civil and defence aircraft segments.

Headquartered in Delhi, also has offices in Bangalore and Mumbai, while its subsidiary Jeppesen is based in Hyderabad.