Indian summer: BP brings its board meeting to Delhi
Bullish on India, global energy major BP Plc has decided to bring to India its board meeting, scheduled to be held in May, to Delhi, Anupama Airy reports.business Updated: Apr 26, 2013 22:41 IST
Bullish on India, global energy major BP Plc has decided to bring to India its board meeting, scheduled to be held in May, to Delhi.
The board members will also meet partner Reliance Industries’ chairman Mukesh Ambani and his top team at Mumbai, besides visiting the KG-D6 gas field off Andhra.
“I have asked the BP board of directors to hold their May meeting in India so that the members can see the challenges and opportunities themselves before they are asked to consider additional investments in India,” Bob Dudley, group chief executive, BP, told Prime Minister Manmohan Singh in a recent letter accessed by HT.
Global companies bringing their boards to hold meetings here is symoblic of their ambitions linked to the country. PepsiCo, Goldman Sachs, Lenovo and Unilever are among those who have held board meetings in India in recent years.
From Dudley's letter, it becomes clear that BP’s investment in India came after Singh’s encouragement.
“You said you could not advise on business decisions, but that we should always trust in India and if we did we would be successful... we have, and we continue to do so,” Dudley wrote.
With an investment of over $8 billion and employing over 8,500 people in the oil, gas, lubricants and petrochemicals businesses, BP has the largest presence in India among global energy firms.