“Reform in governance is my number 1 priority. We are for simplified procedures, speedy decision making, transparency and accountability,” said Modi to over 40 CEOs of Fortune 500 companies, over dinner as he presented a page-long sheet of all the steps taken by his government in the previous year.
The group 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; all valued at a collective worth of $ 4.5 trillion. Several CEOs referred to the sheet as a report card and said it reflected the transparency of the Modi Government. Vikas Swarup, India's External Affairs Ministry spokesperson said, “Please continue to do more what you are doing. Maybe slightly faster.” He said, “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 was that please make that change faster.”
The Prime Minister, in the meeting, said that the foreign direct investment has fallen all over the world, but in India it has increased by 40 per cent. “This reflects confidence in the Indian economy.” He told the CEOs that he believes in deregulation and that the government should allow the private sector to develop and he is all for predictable, transparent and accountable government.
Indian Ambassador to the US Arun K Singh said, “If you look at the global trends, this was the unique opportunity to move ahead, attract capital and find moments in terms of market access and ability to produce both for domestic and for exports.” He added that, “There was support and appreciation expressed for the make in India programme, the skills India programme and the work related to smart cities, he focus on renewable energy. Some emphasis on the needs in the infrastructure sector and appreciation for the way in which the concept of smart cities have been approached.”
