Hyderabad: Global Entrepreneurship Summit 2017, the biggest gathering of young entrepreneurs and emerging startups from around the world, jointly hosted by the United States and India, got under way with the two countries calling for domestic reforms and international initiatives for empowering the women.
The three-day 8th annual conference with the theme of ‘Women First-Prosperity for all’ was formally opened by the Prime Minister Narendra Modi and adviser to the US President Ivanka Trump on Tuesday evening.
With the venue turned into a fortress by 10,000-odd security personnel and the elite commandos of the two host countries keeping a hawk’s eye inside the hall, 1,500 odd delegates heard the speakers at the opening session keenly.
Modi, highlighting the close partnership and cooperation between India and the United States, said that November was celebrated as ‘Entrepreneurship Month’ by India as a mark of its encouragement to the entrepreneurs. India and the US shared commitment to encouraging entrepreneurship and innovation, he said in his welcome speech.
“Each of you young Indian entrepreneurs has the ability to create New India 2022. You are the nation’s wealth”, Modi said.
He reiterated his call to the foreign investors to become a partner in India’s growth story. “Make in India, Invest in India for India and the world,” he told them.
“The power to think differently and ahead of the time for the betterment of mankind is what sets entrepreneurs apart”, he said adding that the Indian women continue to lead in different walks of life.
India’s Foreign Minister Sushma Swaraj and the Defence Minister Nirmala Sitaraman were seated in the front row of the audience at the session.
Ivanka, who arrived in Hyderabad at 4 Tuesday morning, was the cynosure of all eyes at the opening session. Hailing the role of the women entrepreneurs, who were the focus of GES this year, Ivanka said, “you prove to the world that we have the power to rise above the challenges of our day to pioneer new pathways forward and to leave our marks on this moment in history”.
Referring to the efforts of the US administration to encourage the entrepreneurship Ivanka said they were aimed at enabling Americans to turn their dreams into incredible legacies.
She said fuelling the growth of women-led business was not simply good for the society but also for the economy. “One study estimates that closing the gender entrepreneurship gap worldwide could grow our global GDP by as much as 2 per cent”.
“Women in this room can help lead the way to closing this gap and ushering in a new age of greater prosperity,” she said.
Underlining the power of women specially with reference to India, Ivanka said, “just consider if India closes the labour force gender gap your economy could grow by over $150 billion (Dh551 billion) in the next three years”.
Ivanka, who is emerging as a leading US figure in the international diplomacy with a personal passion for women empowerment and girl education, said, “at home our administration is committed to empowering women entrepreneurs through domestic reforms”.
Underlining the remarkable stride made by the women in starting new businesses, Ivanka said: “Today more than 11 million women in the US own businesses. They employ 9 million workers and generate over $1 trillion in revenue”.
The opening session started with inaugural address of Telangana Chief Minister K Chandrasekhar Rao while India’s external affairs minister Sushma Swaraj delivered the closing remarks.
The summit will have more than 50 sessions over the next two days with many prominent women as speakers.
