Zee Media Bureau
New Delhi: With an aim to attract US business honchos to invest in India, Prime Minister Narendra Modi who is on his maiden visit to the United States, had a breakfast meeting with the CEOs of 11 top US companies on Monday.
At the meeting, PM Modi said that Infrastructure development is a big opportunity, it creates jobs and enhances quality of life of our citizens.
He also said that India is open-minded. “We want change. Change that is not one sided,” Modi said.
Narendra Modi further said, “We want to convert the Supreme Court judgment on coal allocation into an opportunity to move forward and clean up the past.”
The SC last week quashed allocation of 214 out of 218 coal blocks alloted to various companies since 1993 terming it as "fatally flawed" and allowed the Government to take over operation of 42 such blocks which are functional.
Modi's statement comes in the backdrop of concerns that the judgment would have an adverse impact on corporate sentiments and overall business climate.
PM Modi told the top CEOs, “It is my conviction that tax stability is essential for confidence building.”
Meanwhile, Prime Minister Narendra Modi gifted famous Indian tea to the captains of 11 large American corporations.
The signature gift box containing three famous tea of India - Darjling, Assam and Nilgiri - was presented by the Prime Minister after he hosted a breakfast meeting for them.
Inside the signature gift box presented by @narendramodi to CEOs. pic.twitter.com/TUSmkiA8rB
— Syed Akbaruddin (@MEAIndia) September 29, 2014
Defence major Boeing proposed greater business engagement with India, as Prime Minister Narendra Modi promised the US companies to provide friendlier business environment in the country.
In a one-on-one meeting with Modi, Boeing CEO James McNerney said that the company wants to accelerate its engagement with India.
Boeing wants to accelerate engagement with India - James McNerney, CEO of Boeing to PM @narendramodi. pic.twitter.com/ha8r43hM0A
— Syed Akbaruddin (@MEAIndia) September 29, 2014
During the breakfast meeting Modi interacted with leading individual CEOs, including Google's Eric Schmidt, David M. Rubenstein of The Carlyle Group, Citigroup CEO Michael Corbat, Doug Oberhelman of Caterpillar Inc, Indra Nooyi of Pepsico and Michael Ball of US-based global pharmaceutical company Hospira Inc. and Kenneth C. Frazier of Merck and Co.
The CEOs have met Modi to help understand his vision for the Indian economy and his vision of bringing FDI to India. The meeting will help the biz honchos to get a clarity on the policies.
Shortly he will hold a one-on-one meetings with top honchos, on the list are: W. James (Jim) McNerney Jr, chairman of Boeing; Laurence D. Fink, CEO of American multinational investment management firm Black Rock; Ginni Rometty, president and CEO of IBM; Jeffrey R. Immelt. chairman and CEO of General Electric; Lloyd Blankfein, chairman and CEO of Goldman Sachs; and Henry Kravis, CEO of American private equity fund Kohlberg Kravis Roberts and Co. (KKR).
Yesterday, Modi, after having addressed nearly 20,000 people of the Indian community at a rock-star style event in Madison Square Garden, spoke briefly to the select gathering of eminent men and women and underscored his government's focus and efforts to move forward on development and make India a magnet of investment.
Modi said if the country moves in the direction of economic development and growth, in the direction of providing more and more people with employment and if growth accelerates on a fast pace, India will become a centre of attraction for the world and it will not be required to invite anyone.
Modi sought cooperation from Indian-Americans in his effort to revive the Indian economy.
With agency inputs
