Cyrus Mistry replaces Ratan Tata as co-chairman of US-India CEO Forum

Days before US President Barack Obama's high-powered visit in India, the US-India CEO Forum has been reconstituted with Tata Group chairman Cyrus Mistry replacing Ratan Tata as its co-chairman and inclusion of industrialists like Reliance ADAG chairman Anil Ambani.

Mistry will lead the Indian side to the forum of top chief executives from India and US. David M Cote from Honeywell will co-chair CEO forum from US side.

The forum is likely to discuss bilateral business ties particularly in light of US being a major potential source of manufacturing investment.

The CEOs forum meets on January 26 afternoon and will be addressed by Obama and Prime Minister Narendra Modi, sources said.

Reliance Industries (RIL) chairman Mukesh Ambani, Bharti Enterprises chairman Sunil Bharti Mittal and ICICI Bank CEO and managing director (MD) Chanda Kochhar continue on the Forum while former Infosys CEO S. Gopalakrishnan has been replaced by Vishal Sikka, the firm's new head.

Anil Amban has been included in the Forum from India's side.

Adani Group head Gautam Adani, Shashi Ruia of Essar, Mahindra & Mahindra chairman Anand Mahindra , Hari Bhartia of Jubiliant, Biocon chairman and MD (CMD) Kiran Mazumdar-Shaw and Sudhir Mehta of Torrent Pharma are all part of the 17-member forum.

State Bank of India (SBI) chairperson Arundhati Bhattacharya, Oil and Natural Gas Corporation (ONGC) CMD Dinesh K Sarraf and Bharat Heavy Electricals (BHEL) head B Prasada Rao too are part of the forum.

The US team includes Indra Nooyi of Pepsico, Harold McGraw, chairman McGraw Hill Financial and Ajay Banga, CEO of Mastercard.

Obama, who arrives in New Delhi on January 25, and Modi will address the meeting and are likely to interact with the CEOs, sources said.