Reacting to this speculation she herself ruled out of the race saying she "loves" her present job.
"Ratan is an unbelievable person. He has got an incredible stable of people who can succeed him. I am running one of the greatest companies in the world, PepsiCo. I love my job," Nooyi told a news agency when asked about the speculation linking her to the top job.
The Chennai-born chief of the world's leading company in convenient snacks, foods and beverages, with revenues of more than USD 60 billion and over 285,000 employees, however, praised the Tata Group. "Tata is an unbelievable company. It is a nation-building enterprise, a phenomenal enterprise, the face of India," Nooyi said.
While Ratan Tata's 52-year-old half brother Noel Tata has been speculated to be the front-runner, Nooyi,a global business leader and Carlos Ghosn, the Chairman and Chief Executive Officer of Renault-Nissan Alliance, are two suitable candidates to succeed Tata.
Sources said the Tata Group announced that a successor to the charismatic Ratan Tata would take place by Feb-Mar in 2011.