The Two and a Half Men actor played various "bachelors" in mock online dating videos as part of a promotion for Popchips.
One of the personas was a Bollywood producer named Raj who is "looking for love". Kutcher wore brown make-up and attempted an Indian accent for the role.
The solo video featuring 'Raj' has now been removed from YouTube and Facebook after being criticised online, The AP reports.
However, a video featuring some footage of 'Raj' along with Kutcher as a stoner, a tattooed Southerner and a fashionista, remains online.
A spokeswoman for Popchips said the video was "created to provoke a few laughs and was never intended to stereotype or offend anyone".
She added that the company hopes "people can enjoy this in the spirit it was intended".
Watch the video featuring all four characters below: