By Arun Kumar

Washington, Sep 8 (IANS): GE and PepsiCo in India are among 12 American companies selected as finalists for the Secretary of State's prestigious 2010 Award for Corporate Excellence (ACE).

Chosen from a record number of 78 nominations submitted by American ambassadors around the world, ACE finalists are international business leaders who recognize the vital role that US businesses play abroad as good corporate citizens, the State Department announced.

GE in India has been selected "for the diversified technology, media and financial services company's fostering of local partnerships and volunteerism, supporting health, education, innovation and disaster recovery projects across India; exemplary employment practices; and promotion of cleaner, more energy efficient products."

PepsiCo in India has been chosen "for the beverage company's fostering of environmental sustainability through water conservation efforts, which has benefited small and marginal farmers; supporting the health and well-being of local communities; and providing important employment opportunities through training with a focus on diversity and inclusion."

Other ten finalists are: Alta Ventures in Mexico, Cisco in Israel, Coca-Cola in Swaziland, Denimatrix in Guatemala, Fiji Water in Fiji, Intel in Costa Rica, Mars, Inc. in Ghana, Synopsys in Armenia and Qualcomm and Tang Energy in China.

The Secretary of State has awarded the ACE since 1999 to recognize US businesses for advancing good corporate citizenship, innovation, and democratic principles, the department said.