During the roundtable, Obama was accompanied by US Commerce Secretary Gary Locke and other top officials as also corporate leaders who are part of his entourage.
The deliberations covered areas like electric cars, clean transport, solar power, drinking water and recent discoveries in the pharmaceutical sector.
The discussions, which focused on growing trade and investment, were attended by Anand Mahindra, vice chairman and managing director of Mahindra and Mahindra Group, Ajay Piramal of leading pharma group Pirmal and other business leaders.
Also present at the meeting were 15 young entrepreneurs who are spreading initiatives in job creation and improvement in delivery of basic services -- healthcare, education, clean water, power, financial services -- through market-based strategies that benefit low-income communities.
Mahindra's electric car Reva and their US-based partner Curtis reportedly generated considerable interest at the meeting.
"Through this partnership, Mahindra Reva and Curtis are advancing the commercialisation and adoption of clean vehicles in India and across the globe", a White House press release said ahead of the meeting of Obama with the select business leaders.
On clean drinking water, it said, Minnesota-based Pentair Filteration Systems are being used by Piramal's Sarvajal to develop sustainable drinking water solutions for rural and urban population.
The Epic System, an optical biosensor developed and manufactured by Upstate New York's Incorporated, is being used in partnership with Advinus Therapeutics for development of new therapies for a variety of diseases, it added.