Mr Modi invited them to "make in India", the name of a national programme which aims to make India a global manufacturing hub.
He said "reform in governance" was his top priority to ensure accountability.
Mr Modi's five-day visit to the US will also see him meet top Silicon Valley leaders and attend a Facebook townhall.
Among the CEOs who met Mr Modi were Citigroup Chairman Michael O'Neill, MasterCard CEO Ajay Banga, Boeing International President Marc Allen and Goldman Sachs President Gary Cohn.
Media tycoon Rupert Murdoch tweeted after the meeting that he had a "great hour" with the Indian prime minister.
"Best leader with best policies since independence, but massive task to achieve in most complex nation", the tweet read.
India's ambassador to the US Arun K. Singh told a media conference later that chief executives had been "upbeat" after the interaction and said: "They felt that the initiatives being taken by the government were inaccurately assessed and reported, and appreciated the trend and direction in India."
India's Foreign Ministry Spokesman Vikas Swarup added that "Everyone was happy with the changes in India. Their only demand was that the changes be faster".
Meanwhile the White House has confirmed that US President Barack Obama will meet Mr Modi on the sidelines of the UN summit on Friday.
Senior Obama National Security Aide Ben Rhodes said the discussions would include issues related to a major climate conference, where countries are being asked to set emissions targets, the AFP news agency reported.
India Prime Minister Narendra Modi has met 47 chief executives of Fortune 500 companies at a dinner moderated by Fortune editor Alan Murray in New York.