PM Modi meets Blackrock CEO in New York

Prime Minister Narendra Modi met Laurence D. Fink, CEO of the American multinational investment management firm Blackrock here on Monday.

Prime Minister also had similar meetings with Boeing CEO James McNerney and Kohlberg Kravis Roberts and Co CEO Henry Kravis.

In India DSP BlackRock is a leading mutual funds investment company. BlackRock Inc., the world's largest money manager, has emerged as one of the biggest winners from Indian Prime Minister Narendra Modi's plans to revive the country's economic expansion. he DSP BlackRock India T.I.G.E.R. Fund, designed to buy stocks that benefit most from growth-boosting policies, returned 40 percent in the three months through June 18, the best advance among 64 Indian equity funds according to reports.

BlackRock continues to evolve to meet the changing needs of investors, achieving record earnings and assets under management.

Founded in 1988, initially as a risk management and fixed income institutional asset manager, BlackRock has become the world's largest asset manager as of 2010 after numerous acquisitions, including Merrill Lynch Investment Managers, Quellos, State Street, and Barclays Global. As of 2014, BlackRock has USD 4.59 trillion worth of assets under management.

Prime Minister Modi will also hold separate parleys with Virginia Rometty CEO of IBM; Jeffrey R. Immelt, CEO of General Electric; Lloyd Blankfein, and CEO of Goldman Sachs.

Earlier in the morning, Prime Minister held a breakfast meeting with CEOs of 11 top US companies, during which he is believed to have pushed India's case as the best investment destination in Asia.

Among the eleven CEOs whom the Prime Minister had met were Google's Larry Page; David M Rubenstein of The Carlyle Group; Michael L Corbat, CEO of Citigroup; Doug Oberhelman of Caterpillar; Cargill President and CEO David W MacLennan; Indra Nooyi of PepsiCo; Kenneth C Frazier of Merck; MasterCard President and CEO Ajaypal Singh Banga, AES Corporation CEO Andres Gluski, Charles R. Kaye of Warburg Pincus and Micheal Ball of Hospira - a US-based global pharmaceutical company.

These meetings with the 17 CEOs are expected to last about two hours.

These meetings are a part of Prime Minister Modi's plans to increase the share of India's manufacturing sector to 25 per cent of the GDP from 15 per cent currently. He is expected to assure the CEOs of a red carpet welcome minus the red tape.

Later in the day, he will meet the Clintons, former president Bill Clinton and his wife and former US Secretary of State Hillary Clinton. Following which, he departs for Washington in the afternoon to meet U.S. President Barrack Obama.