More than 60 former workers at an Italian manufacturing company in India are facing murder charges after allegedly beating the company's local chief executive officer to death.

Lait Kishore Choudhary, 47, the head of Graziano Transmissioni India, bled to death on Monday after allegedly being attacked with rods and wooden sticks at a factory located on the outskirts of New Delhi, said Babu Ram, superintendent of police.

Several former employees went to a scheduled meeting at the factory in Greater Noida in an attempt to resolve an industrial dispute in which more than 100 employees were dismissed over recent months, Ram said.

Choudhary was allegedly attacked after he tried to reason with workers who had begun destroying factory property, Ram said.

Sixty-three of the former factory employees were charged with murder and 73 others were charged with disturbing the peace, Ram said.

In a written statement, the Confederation of Indian Industry condemned the attack as a "tragic, unwanted and gory act of violence."

"Such instances of industrial violence cannot be a solution to any problem and must not be tolerated," the release said.

With files from the Associated Press