PepsiCo Chairman Indra K Nooyi has been elected as the chairperson of the US-India Business Council.

The USIBC Board of Directors made the announcement on Wednesday.

Nooyi is the first woman to ever serve at the helm of the premier business advocacy organization that comprises of 250 of the largest US companies investing in India, joined by more than two dozen global Indian companies. The mandate of USIBC is to deepen two-way trade and strengthen US-India commercial ties.

"At this important moment in Indo-US relations -- and at this point in USIBC's 33-year history -- USIBC is truly fortunate to have someone of Indra's talent, insight and vision to leverage the business communities of both countries and to cement the promise of the partnership," said departing-Chairman Charles 'Chip' Kaye.

"We are indebted to Chip Kaye for his dedication to USIBC over the past three years," Nooyi said of the outgoing chairman, adding, "His contribution to USIBC and, more importantly, to India sets a benchmark deserving of our gratitude and respect."

In a statement, the USIBC said that as chairman Chip Kaye launched bold USIBC initiatives supporting civilian nuclear cooperation, clean energy, improved public health, environmental technology transfer, and more robust trade -- capturing the attention of policy-makers in both capitals and setting a new benchmark for organizations striving to promote deeper US-India ties.

USIBC president Ron Somers stated, "That someone of Indra's stature and grace has stepped forward to advance the progress of the Council so effectively implemented by Chip Kaye is not only a testament to Chip's leadership, but speaks volumes of the exciting opportunities associated with these two dynamic economies."

USIBC, formed in 1975 at the request of Indian and US governments to advance commercial ties between the world's two largest free-market democracies, is hosted under the aegis of the US Chamber of Commerce.