28.9.15

Business Leaders

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Deng Xioaping didn't go to the USA to invite USA businesses to invest in China, in the very early eighties. No, what he did was change the rules and laws in selective parts of China SEZ, where foreign and Chinese companies were given free reign to do their businesses, exclusively focused on exports. 

Modi can promote India all he likes, but unless the FUNDAMENTAL anti-business climate in India is changed, his begging and urgings in the USA will come to naught.

Deng was in charge of a totalitarian state, with highly centralised rule, and a nation steeped in efficient bureaucracy.

India on the other hand............its Modi's skills of what he can do....in India.


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PM Modi dines with Fortune 500 CEOs, invites them to 'Make in India'

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Times of India

Prime Minister Narendra Modi met top CEOs in the US, listing the various sectors that India has opened up for investments and inviting the US business leaders to 'Make in India'.

"Reform in governance is my number 1 priority. We are for simplified procedures, speedy decision making, transparency and accountability," Modi told the top 47 CEOs from the Fortune 500 companies whom he met over dinner on Thursday.

"FDI all over the world has fallen but in India it increased by 40 percent. This reflects confidence in the Indian economy," the Prime Minister said.

READ ALSO: On Day 1 of US trip, PM Modi signals: India now open for business

The Prime Minister said India is ready to welcome them (CEOs) with both hands and it is the right time for them to come and invest in the world's largest democratic country.

Fortune Editor Alan Murray moderated the discussion.

Among the CEOs of Fortune 500 companies who attended the dinner were Lockheed Martin Chairman and CEO Marillyn Hewson, Ford President and CEO Mark Fields, IBM Chairman Ginni Rometty, Pepsi Co Chief Indra Nooyi and Dow Chemical Chairman Andrew Liveris.

Citigroup Chairman Michael O'Neill, MasterCard CEO Ajay Banga, Boeing International President Marc Allen, Goldman Sachs President Gary Cohn, Blackstone President Hamilton James, SanDisk co-founder Sanjay Mehrotra, Harman International Chairman Dinesh Paliwal and Time Inc CEO Joe Ripp were also present on the occasion.
. The dinner came after PM Modi's meeting with top executives of major media and communication companies where he presented India as a technology-driven society, and pledged protection to Intellectual Property Rights (IPR).

"This is a technology driven era. We are a technology driven society," he said at a roundtable meeting with the top executives of companies like Comcast, Time Warner, Discovery, Sony, ESPN, News Corp, 21st Century Fox, Disney Industries, ABC television group.

The focus of the Prime Minister's meeting with over dozen media honchos was to understand about the trends in media and communication technologies and the opportunities for India.

READ ALSO: PM sells 'Brand India' to media barons in US

Earlier in the day, the Prime Minister met eight of the top 10 financial entities in the US, including JP Morgan and Blackstone, where he outlined efforts made during the last 15 months to increase investment in key areas like infrastructure.

Some of the CEOs, after the meeting, said that they were satisfied with the progress of the reform.

"The government has already undertaken a massive amount of reforms. Key message from the US companies was keep doing what you are doing. I had a great meeting, there was a constructive dialogue in the spirit of collaboration. We are looking at India trying to get foreign direct investment," J P Morgan CEO James Dimon said.

COMPLETE COVERAGE: PM Modi's US visit

Blackstone CEO Stephen A Schwarzman said that he felt the Prime Minister was open to the suggestions the CEOs put before him to improve access to the country.