SC’s cancellation of coal licenses is opportunity to move forward: Modi to top American CEOs

New York: Over a power-packed breakfast meeting with captains of 11 large American corporations, Prime Minister Narendra Modi on Monday pitched for big-ticket investments to develop India's infrastructure and create more jobs and enhance the quality of life.

The Prime Minister is believed to have pitched the India story in his interactions with the top executives, including Indian-origin PepsiCo CEO Indra Nooyi, Google Chairman Eric Schmidt and Citigroup chief Michael Corbat.

He also discussed steps that can be taken to enhance India's business environment.

PM Narendra Modi meets Boeing CEO James McNerney. (Photo: ANI Twitter)

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"India is open-minded. We want change. Change that is not 1 sided. Am discussing with citizens, industrialists & investors," the spokesman of the Ministry of External Affairs Syed Akbaruddin tweeted, quoting the Prime Minister as saying.

"Infrastructure development is a big opportunity; it creates jobs & enhances quality of life of our citizens," Modi told the CEOs.

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Modi said, “Want to convert Supreme Court’s order on coal blocks into opportunity to move ahead and clean up past.”

Significantly, all companies already have considerable presence in India and their chiefs are believed to have expressed intention to further expand their engagements with the Indian government and enhance their business presence in the country.

Those present at the breakfast meeting also included Mastercard CEO Ajay Banga, Cargill's President and CEO David W MacLennan, Caterpillar's Douglas Oberhelman, AES' Andres Gluski, Merck's Kenneth Frazier, Co-founder and Co-CEO of Carlyle Group David Rubenstein, Hospira's Michael Ball and Warburg Pincus' Charles Kaye.

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The over one-hour-long breakfast meet was followed by one-on-one meetings with six CEOs of Boeing, KKR, BlackRock, IBM, General Electric and Goldman Sachs.

This is the first extensive business engagement in the US of the Prime Minister, who will also attend business meets in Washington tomorrow during his second leg of the 5-day visit.

Prime Minister Narendra Modi shakes hands with PepsiCo's Indian American chairman and CEO Indra Nooyi after a breakfast meeting in New York, US (Photo: PTI)