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PM Narendra Modi interacting with some of the Fortune 500 CEOs in a special event in New York.
Prime Minister Modi with $4.5 tn club
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PM Narendra Modi interacting with some of the Fortune 500 CEOs in a special event in New York.
Peter Griffin
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NEW YORK: As top American CEOs held no punches about the "obstacles" in ease of doing business in India, Prime Minister Narendra promised to fast-track the decision-making process, acknowledging that "the world is not going to wait for us".
At a dinner hosted by Fortune magazine where 42 CEOs of manufacturing and infrastructure sectors were not "shy" in referring to a host of obstacles, he asked them to take advantage of the huge opportunities of investing in India.
"Please continue to do more of what you are doing. May be slightly faster," CEOs of American companies with a collective networth of USD 4.5 trillion, told the Prime Minister.
Fortune editor Alan Murray, who moderated the discussion, said complicated regulations, excessive permitting, confusing bureaucracy, poor infrastructure and overlapping local taxes were raised by the CEOs who urged the Prime Minister to "pick up the pace of change".
They praised the Prime Minister's efforts to improve the climate for business, while highlighting the obstacles. One of them said, "It is not an easy place to do business."
The Prime Minister acknowledged their concerns and pledged to speed up efforts to reduce the role of the government in business.
"The world is not going to wait for us. I know that," Modi said, according to a newsletter issued by Murray.
"The high turnout of the CEOs highlights the prime position India holds in today's global economy. With China slowing, India's 7.5 per cent growth rate makes it the fastest growing major economy in the world today and many of the CEOs cited plans to expand there," Murray added.
External affairs ministry spokesperson Vikas Swarup told reporters after the meeting, "By and large the mood was very upbeat. There is general consensus that the Prime Minister is effecting change in India. The only thing all the CEOs said is that please make that change faster."
The CEOs present at the meeting included 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.
During the 'Roundtable with American Inc', the Prime Minister listened to each one of the CEOs present in the room about their concerns and plans for India and how these issues can be resolved, he said.
Inviting the US companies to set up manufacturing units in India, Modi told them, "Reform in governance is my No. 1 priority. We are for simplified procedures, speedy decision making, transparency and accountability."
He also listed the sectors that have been opened up in India for investment and said that "FDI all over the world has fallen but in India it has increased by 40 per cent."
"This reflects confidence in the Indian economy," Modi said while interacting with the CEOs from the manufacturing and infrastructure sectors.
Briefing reporters about the day-long interactions that the Prime Minister had with the corporate world, Indian Ambassador to the US Arun K Singh said there were some suggestions made about "additional steps that can be taken in terms of ease of doing business".
"Those are things that the government would assess," he added.
-TOI
At a dinner hosted by Fortune magazine where 42 CEOs of manufacturing and infrastructure sectors were not "shy" in referring to a host of obstacles, he asked them to take advantage of the huge opportunities of investing in India.
"Please continue to do more of what you are doing. May be slightly faster," CEOs of American companies with a collective networth of USD 4.5 trillion, told the Prime Minister.
Fortune editor Alan Murray, who moderated the discussion, said complicated regulations, excessive permitting, confusing bureaucracy, poor infrastructure and overlapping local taxes were raised by the CEOs who urged the Prime Minister to "pick up the pace of change".
They praised the Prime Minister's efforts to improve the climate for business, while highlighting the obstacles. One of them said, "It is not an easy place to do business."
The Prime Minister acknowledged their concerns and pledged to speed up efforts to reduce the role of the government in business.
"The world is not going to wait for us. I know that," Modi said, according to a newsletter issued by Murray.
"The high turnout of the CEOs highlights the prime position India holds in today's global economy. With China slowing, India's 7.5 per cent growth rate makes it the fastest growing major economy in the world today and many of the CEOs cited plans to expand there," Murray added.
External affairs ministry spokesperson Vikas Swarup told reporters after the meeting, "By and large the mood was very upbeat. There is general consensus that the Prime Minister is effecting change in India. The only thing all the CEOs said is that please make that change faster."
The CEOs present at the meeting included 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.
During the 'Roundtable with American Inc', the Prime Minister listened to each one of the CEOs present in the room about their concerns and plans for India and how these issues can be resolved, he said.
Inviting the US companies to set up manufacturing units in India, Modi told them, "Reform in governance is my No. 1 priority. We are for simplified procedures, speedy decision making, transparency and accountability."
He also listed the sectors that have been opened up in India for investment and said that "FDI all over the world has fallen but in India it has increased by 40 per cent."
"This reflects confidence in the Indian economy," Modi said while interacting with the CEOs from the manufacturing and infrastructure sectors.
Briefing reporters about the day-long interactions that the Prime Minister had with the corporate world, Indian Ambassador to the US Arun K Singh said there were some suggestions made about "additional steps that can be taken in terms of ease of doing business".
"Those are things that the government would assess," he added.
-TOI
Peter Griffin
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He is checking his shoes.
DrSomnath999
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once upon a time
now
heehee
really TIME CAN CHANGE FORTUNE FOR A MAN
CHEERS
now
heehee
really TIME CAN CHANGE FORTUNE FOR A MAN
CHEERS
Carp-e-diem
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Actually I have some reservations on some members of his party but I respect this man. He is one of most brilliant and active leader I have ever seen in my life. The hard work he put in making his stature rise from a teaboy to a good international leader. The photo itself tells the whole story of his hard work and dedication.once upon a time
now
heehee
really TIME CAN CHANGE FORTUNE FOR A MAN
CHEERS
As I always believe in.
'Change' change is the universal rule boy no one can change the change, it will happen so just wait for the right time your hardwork will pay off.
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For all these CEOs to take their time out for him, is a good sign. What would they do for Rahul Gandhi?
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Peter Griffin
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PM Modi to Host G4 Summit in New York, Security Council Reforms on Agenda
India is making a strong bid for a permanent seat in an expanded Security Council, which currently had five members -- China, France, Russia, the United Kingdom, and the United States.NEW YORK: Prime Minister Narendra Modi will soon host a special high-powered summit with German Chancellor Angela Merkel, Japanese PM Shinzo Abe and Brazilian President Dilma Rousseff. This will be PM Modi's last official engagement in New York today.
The three nations, along with India, comprise what is known as the G-4 group - countries which back each other's bid for permanent seats at the UN Security Council. The Security Council, a powerful world body, is in charge of international peacekeeping and making changes in the UN charter. (Live Updates)
In his address to the United Nations General Assembly on Friday, PM Modi made a strong pitch for reforms in the security council.
"We must reform the United Nations including its Security Council so that it carries greater credibility and legitimacy and will be more representative and effective in achieving our goals," he said.
The UN General Assembly has already adopted a negotiating document for the long-pending reforms of the powerful wing of the world body and the US, one of the council's permanent members, has said it is committed to India's inclusion as a permanent member.
India's Permanent Representative to the UN Asoke Mukerji has said the main focus of the G4 summit is to "build" on the UNGA's adoption of the negotiating text on UNSC reforms.
"Our effort will be that by the end of the 70th session in September 2016, the final text should be tabled in the Assembly for adoption," he had said.
As the single largest contributor to the UN Peacekeeping operations, India is likely to seek an enhanced role in the UN's decision making process. PM Modi is expected to make a statement on September 28 at the UN Peacekeeping Summit convened by US President Barack Obama in New York.
-NDTV
India is making a strong bid for a permanent seat in an expanded Security Council, which currently had five members -- China, France, Russia, the United Kingdom, and the United States.NEW YORK: Prime Minister Narendra Modi will soon host a special high-powered summit with German Chancellor Angela Merkel, Japanese PM Shinzo Abe and Brazilian President Dilma Rousseff. This will be PM Modi's last official engagement in New York today.
The three nations, along with India, comprise what is known as the G-4 group - countries which back each other's bid for permanent seats at the UN Security Council. The Security Council, a powerful world body, is in charge of international peacekeeping and making changes in the UN charter. (Live Updates)
In his address to the United Nations General Assembly on Friday, PM Modi made a strong pitch for reforms in the security council.
"We must reform the United Nations including its Security Council so that it carries greater credibility and legitimacy and will be more representative and effective in achieving our goals," he said.
The UN General Assembly has already adopted a negotiating document for the long-pending reforms of the powerful wing of the world body and the US, one of the council's permanent members, has said it is committed to India's inclusion as a permanent member.
India's Permanent Representative to the UN Asoke Mukerji has said the main focus of the G4 summit is to "build" on the UNGA's adoption of the negotiating text on UNSC reforms.
"Our effort will be that by the end of the 70th session in September 2016, the final text should be tabled in the Assembly for adoption," he had said.
As the single largest contributor to the UN Peacekeeping operations, India is likely to seek an enhanced role in the UN's decision making process. PM Modi is expected to make a statement on September 28 at the UN Peacekeeping Summit convened by US President Barack Obama in New York.
-NDTV
Peter Griffin
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He's a rock star: Here's how Modi has captivated his Silicon Valley fans
San Francisco - For a change, Silicon Valley is buzzing about something besides a sleek new device, mind-bending breakthrough or precocious billionaire.
A rare visit by Indian Prime Minister Narendra Modi this weekend has captivated his extensive fan club in the area and commanded the attention of major US technology companies eager to extend their reach into a promising overseas market.
PM Modi. PTI
It will also give Modi, a Hindu nationalist elected to office last year, an opportunity use the world's high-tech capital as a pulpit to promote his plan to transform India into a hub of innovation. He envisions a "Digital India,'' where ubiquitous high-speed internet access will empower entrepreneurs to build software and other technology products that will raise the standard of living in a country where many households are still impoverished.
"He's like a rock star over here," said Vivek Wadhwa, a fellow at Stanford University's Rock Center for Corporate Governance who has studied Silicon Valley and its reliance on immigrants in its technology-driven workforce. "He really does seem to understand the significance and importance of tech."
Despite his popularity, Modi still faces strident criticism from some. A group of more than 100 college professors and other academics across the US have posted an open letter on the internet warning people to beware of Modi's digital push. They say it could be a veiled attempt to enable the government to monitor private communications and suppress dissent.
"A lot of this is just very good public relations management,'' said Thomas Blom Hansen, a Stanford University anthropology professor who has been studying India for 25 years. "All we are saying is, 'Hang on, it's not as well as it looks.'"
Modi's government has raised privacy fears with a proposal that would have required internet users to save unencrypted copies of their texts and posts on social networks, an idea that Wadhwa describes as a blunder conceived by lower-level bureaucrats in India.
Another group called "Sikhs For Justice" is offering $10,000 to anyone who confronts Modi with two questions about perceived threats to religious freedom in India during a "town hall" meeting scheduled Sunday morning at Facebook's Menlo Park, California, headquarters.
Modi's arrival Saturday will mark the first time an Indian head of state has been in California in 33 years, turning his appearance into a cause for celebration among the tens of thousands of Indian immigrants living and working in Silicon Valley.
His appearance Sunday at a free community event in San Jose, California, will pack the SAP Center, an arena with 18,000 seats. More than 45,000 people had requested tickets.
Event organisers now believe Modi might have been able to fill the nearly 70,000 seats at Levi's Stadium, which last month hosted sold-out concerts by pop singer Taylor Swift -- one of only a few dozen people in the world who has amassed a bigger audience on Twitter and Facebook than Modi.
President Barack Obama is the only elected leader more popular on those influential networks than Modi, who boasts more than 15 million Twitter followers and more than 30 million Facebook fans. Modi regularly shares his thoughts on both communication channels.
Before he meets with Obama in New York on Monday, Modi will be discussing his digital agenda with some of the technology's biggest stars. He is due to dine Saturday with a list of CEOs that includes Apple's Tim Cook and two native Indians, Microsoft's Satya Nadella and Google's Sundar Pichai. His itinerary also includes Sunday's town hall alongside Facebook CEO Mark Zuckerberg, a test drive with Tesla Motors CEO Elon Musk in one of the company's trend-setting electric cars and stop at Google's Mountain View, California, headquarters.
Like many other technology workers born in India, both Nadella and Pichai came to the US to study engineering. Asians now hold 25% to 43% of the US technology jobs at Google, Apple, Microsoft and Facebook, according to the companies' most recent disclosures. The racial breakdowns don't specify what percentage of the companies' Asian workforce is Indian, but they all acknowledge it's a significant number.
But technology companies aren't embracing Modi just to please their Indian workers. They all view India as a potentially lucrative market for years to come. Although the country has produced many successful engineers, technology entrepreneurs and executives, much of the population in India still isn't using computers. That makes it a ripe market for mobile devices and a wide range of other digital products and services.
Facebook has already launched an effort to connect with lower-income Indians through Zuckerberg's Internet.org project, but that has met resistance from Indian groups who say the project favours the company's social network and other products over homegrown web services. That's just one reason why Wadhwa believes Zuckerberg and other Internet executives are trying to woo Modi as an ally.
"Poverty is a massive problem in India and technology-based entrepreneurship can be an antidote," said Silicon Valley venture capitalist Venktesh Shukla, who also will be meeting with Modi on behalf of The Indus Entrepreneurs, a group that helps Indians form and launch startups. "We want to talk to him about how to create the framework to replicate the magic of Silicon Valley in India."
AP
San Francisco - For a change, Silicon Valley is buzzing about something besides a sleek new device, mind-bending breakthrough or precocious billionaire.
A rare visit by Indian Prime Minister Narendra Modi this weekend has captivated his extensive fan club in the area and commanded the attention of major US technology companies eager to extend their reach into a promising overseas market.
PM Modi. PTI
It will also give Modi, a Hindu nationalist elected to office last year, an opportunity use the world's high-tech capital as a pulpit to promote his plan to transform India into a hub of innovation. He envisions a "Digital India,'' where ubiquitous high-speed internet access will empower entrepreneurs to build software and other technology products that will raise the standard of living in a country where many households are still impoverished.
"He's like a rock star over here," said Vivek Wadhwa, a fellow at Stanford University's Rock Center for Corporate Governance who has studied Silicon Valley and its reliance on immigrants in its technology-driven workforce. "He really does seem to understand the significance and importance of tech."
Despite his popularity, Modi still faces strident criticism from some. A group of more than 100 college professors and other academics across the US have posted an open letter on the internet warning people to beware of Modi's digital push. They say it could be a veiled attempt to enable the government to monitor private communications and suppress dissent.
"A lot of this is just very good public relations management,'' said Thomas Blom Hansen, a Stanford University anthropology professor who has been studying India for 25 years. "All we are saying is, 'Hang on, it's not as well as it looks.'"
Modi's government has raised privacy fears with a proposal that would have required internet users to save unencrypted copies of their texts and posts on social networks, an idea that Wadhwa describes as a blunder conceived by lower-level bureaucrats in India.
Another group called "Sikhs For Justice" is offering $10,000 to anyone who confronts Modi with two questions about perceived threats to religious freedom in India during a "town hall" meeting scheduled Sunday morning at Facebook's Menlo Park, California, headquarters.
Modi's arrival Saturday will mark the first time an Indian head of state has been in California in 33 years, turning his appearance into a cause for celebration among the tens of thousands of Indian immigrants living and working in Silicon Valley.
His appearance Sunday at a free community event in San Jose, California, will pack the SAP Center, an arena with 18,000 seats. More than 45,000 people had requested tickets.
Event organisers now believe Modi might have been able to fill the nearly 70,000 seats at Levi's Stadium, which last month hosted sold-out concerts by pop singer Taylor Swift -- one of only a few dozen people in the world who has amassed a bigger audience on Twitter and Facebook than Modi.
President Barack Obama is the only elected leader more popular on those influential networks than Modi, who boasts more than 15 million Twitter followers and more than 30 million Facebook fans. Modi regularly shares his thoughts on both communication channels.
Before he meets with Obama in New York on Monday, Modi will be discussing his digital agenda with some of the technology's biggest stars. He is due to dine Saturday with a list of CEOs that includes Apple's Tim Cook and two native Indians, Microsoft's Satya Nadella and Google's Sundar Pichai. His itinerary also includes Sunday's town hall alongside Facebook CEO Mark Zuckerberg, a test drive with Tesla Motors CEO Elon Musk in one of the company's trend-setting electric cars and stop at Google's Mountain View, California, headquarters.
Like many other technology workers born in India, both Nadella and Pichai came to the US to study engineering. Asians now hold 25% to 43% of the US technology jobs at Google, Apple, Microsoft and Facebook, according to the companies' most recent disclosures. The racial breakdowns don't specify what percentage of the companies' Asian workforce is Indian, but they all acknowledge it's a significant number.
But technology companies aren't embracing Modi just to please their Indian workers. They all view India as a potentially lucrative market for years to come. Although the country has produced many successful engineers, technology entrepreneurs and executives, much of the population in India still isn't using computers. That makes it a ripe market for mobile devices and a wide range of other digital products and services.
Facebook has already launched an effort to connect with lower-income Indians through Zuckerberg's Internet.org project, but that has met resistance from Indian groups who say the project favours the company's social network and other products over homegrown web services. That's just one reason why Wadhwa believes Zuckerberg and other Internet executives are trying to woo Modi as an ally.
"Poverty is a massive problem in India and technology-based entrepreneurship can be an antidote," said Silicon Valley venture capitalist Venktesh Shukla, who also will be meeting with Modi on behalf of The Indus Entrepreneurs, a group that helps Indians form and launch startups. "We want to talk to him about how to create the framework to replicate the magic of Silicon Valley in India."
AP
Peter Griffin
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Silicon Valley Giants Sold on PM Modi's Digital India Plan
SAN JOSE: Visiting Silicon Valley, the highlight of his second US visit in office, Prime Minister Narendra Modi today met tech giants including Apple's Tim Cook, Microsoft's Satya Nadella and Google's Sundar Pichai, who came out in support of his digital India dream.
"If there was ever a gathering under one roof that could claim to be shaping the world, it is this," said PM Modi, sharing the stage with Valley giants at the "Digital India" dinner.
"Google today has made teachers less awe-inspiring and grandparents more idle. Twitter has turned everyone into a reporter... The status that now matters is not whether you are awake or asleep, but whether you are online or offline. The most fundamental debate for our youth is the choice between Android, iOS or Windows," joked the Prime Minister, drawing laughter from the gathering of tech geeks.
He made a strong pitch for digital India's potential to change lives.
"We are expanding WiFi in India at 500 railway stations with help of Google. You can transform lives of those who live on margins of hope. Out of this was born the vision for digital India. It's a scale unmatched in human history - not just to touch lives of poorest but to change the way our nation will live and work", the PM said adding that mobile governance was the way to go "efficient, economical and effective".
Satya Nadella announced that Microsoft would use its cloud services in India to benefit the country in education while Qualcomm CEO Paul Jacobs announced Rs. 10 billion for Indian startups.
Sundar Pichai, the Indian-born CEO of Google, said: "When I was a child in India, owning a telephone was a big deal. We are working on many connectivity projects including a major connectivity project with the Indian railways which we will announce when PM Modi comes to Google."
Mr Modi, the first Indian Prime Minister to visit the world renowned tech hub, will tour the headquarters of Facebook and Google in a few hours.
During his two-day visit, PM Modi hopes to attract investment and skills from US innovators.
PM Modi invites Apple CEO to set up manufacturing base in India - The Economic Times
"The Prime Minister (in his meeting with Cook) said he would like Apple to start manufacturing in India. He mentioned the huge opportunities India offered," Ministry of External Affairs Spokesman Vikas Swarup told reporters
Read more at:
PM Modi invites Apple CEO to set up manufacturing base in India - The Economic Times
SAN JOSE: Visiting Silicon Valley, the highlight of his second US visit in office, Prime Minister Narendra Modi today met tech giants including Apple's Tim Cook, Microsoft's Satya Nadella and Google's Sundar Pichai, who came out in support of his digital India dream.
"If there was ever a gathering under one roof that could claim to be shaping the world, it is this," said PM Modi, sharing the stage with Valley giants at the "Digital India" dinner.
"Google today has made teachers less awe-inspiring and grandparents more idle. Twitter has turned everyone into a reporter... The status that now matters is not whether you are awake or asleep, but whether you are online or offline. The most fundamental debate for our youth is the choice between Android, iOS or Windows," joked the Prime Minister, drawing laughter from the gathering of tech geeks.
He made a strong pitch for digital India's potential to change lives.
"We are expanding WiFi in India at 500 railway stations with help of Google. You can transform lives of those who live on margins of hope. Out of this was born the vision for digital India. It's a scale unmatched in human history - not just to touch lives of poorest but to change the way our nation will live and work", the PM said adding that mobile governance was the way to go "efficient, economical and effective".
Satya Nadella announced that Microsoft would use its cloud services in India to benefit the country in education while Qualcomm CEO Paul Jacobs announced Rs. 10 billion for Indian startups.
Sundar Pichai, the Indian-born CEO of Google, said: "When I was a child in India, owning a telephone was a big deal. We are working on many connectivity projects including a major connectivity project with the Indian railways which we will announce when PM Modi comes to Google."
Mr Modi, the first Indian Prime Minister to visit the world renowned tech hub, will tour the headquarters of Facebook and Google in a few hours.
During his two-day visit, PM Modi hopes to attract investment and skills from US innovators.
PM Modi invites Apple CEO to set up manufacturing base in India - The Economic Times
"The Prime Minister (in his meeting with Cook) said he would like Apple to start manufacturing in India. He mentioned the huge opportunities India offered," Ministry of External Affairs Spokesman Vikas Swarup told reporters
Read more at:
PM Modi invites Apple CEO to set up manufacturing base in India - The Economic Times
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