What top American CEOs say about Narendara Modi, investments in India: 7 power points

Written by Agencies | New Delhi | Updated: Sep 30 2014, 14:46pm hrs
Modi-NooyiPM Narendra Modi shakes hands with PepsiCo CEO Indra Nooyi after a breakfast meeting in New York. (PTI)
Prime Minister Narendra Modi made a strong pitch to attract investments into India, assuring top American corporate honchos of tax stability and friendlier business environment in the country.

Modi spoke at a breakfast with 11 chief executive officers during his first US visit since coming came to power in May, vowing to get India's economy back on track. Among those attending the breakfast at the New York Palace Hotel were the CEOs of Caterpillar Inc, Boeing Co and IBM.

Wooing the corporates, Modi said he wants to convert the Supreme Court judgment on coal allocation into an "opportunity to move forward and clean up the past". The observation comes amid concerns that the ruling could negatively impact investor sentiments and overall business climate.

During his meetings with captains of corporate America, the Prime Minister also pitched for big-ticket investments to develop India's infrastructure and create more jobs and enhance the quality of life.

Here are what the top American corporate honchos say about Narendara Modi and investment climate in India:

1. Reflecting the bullishness about India, US conglomerate General Electric's CEO Jeff Immelt described the country as a great place to invest in and said it is looking to make more investments there. Immelt has high praise for Modi whom he described as a Prime Minister with "good head set for business" and expressed hope that he would continue to "drive the reform process".

2. Describing Modi as a "charismatic leader", Goldman Sachs chief Lloyd Blankfein said the financial services major was eager to participate in India's growth story.

3. American corporates, including technology major IBM, have expressed interest to participate in diverse initiatives of the Indian government including those pertaining to smart cities. IBM's CEO Virginia Rometty evinced interest to participate in the government's new initiatives related to smart cities and digital India.

4. Defence major Boeing's CEO James McNerney said that the company wants to accelerate its engament with India.

5. Reflecting optimism over opportunities in the country, world's largest asset manager Blackrock's CEO Laurence Flik conveyed to Modi that it would host a global investors meet in India next year.

6. India-origin Indra Nooyi, who is PepsiCo's chief, said, "he answers questions brilliantly and is very focused on improving India. So, we are thrilled to be working with him".

7. Another India-origin CEO Ajay Banga, who is at the helm of Mastercard, said the Prime Minister was a good listener and that he believed that Modi can execute plans like the way he did in Gujarat.