During the keynote address at the 8th annual Global Entrepreneurship Summit (GES) at Hyderabad, Ivanka Trump addressed issues faced by women entrepreneurs and said that closing the gender entrepreneurship gap could make global GDP grow by up to 2 percent.
Ivanka, who is leading the US contingent at the summit themed 'Women First, Prosperity for All', was invited by Prime Minister Narendra Modi during his visit to the White House in June to speak at the summit. Here are four key quotes from her address:
It’s wonderful to be in this ancient city brimming with transformative technology. Now, your tech centers may even outshine your world-famous Biryani: Ivanka Trump pic.twitter.com/ixdfSlRfQl
— ANI (@ANI) November 28, 2017
Modi achieving 'truly extraordinary'
Praising Modi who is "doing to build India as a thriving economy—a beacon of democracy—and a symbol of hope to the world, Ivanka said: "What you are achieving is truly extraordinary... from your childhood selling tea to election as India's prime minister."
"Through your own enterprise, entrepreneurship and hard work, the people of India have lifted more than 130 million citizens out of poverty: A remarkable improvement, and one I know will continue to grow under the leadership of prime minister," Ivanka said further.
— GES2017 (@GES2017) November 28, 2017
India, she said, is one of the fastest growing economies in the world and has a true friend in the White House.
'Growth of women-led businesses good for economy'
Ivanka said that despite the soaring rate of female entrepreneurs, women still face steep obstacles to starting, owning, and growing their businesses.
"Fuelling the growth of women-led businesses isn't simply good for our society, it's good for our economy. One study estimates that closing the gender entrepreneurship gap worldwide could grow our global GDP by as much as 2 percent," she said.
'Women can help lead way to closing entrepreneurship gap'
Ivanka opened her speech by stressing how all over the world entrepreneurs are "revolutionising our economies, and improving our societies".
"You are rewriting the rules," she said and went on to talk about the GES theme.
"2017's summit is focussed on a theme that is key to our future: Women First, Prosperity For All. I am proud that for the first time ever, women make up the majority of the 1,500 entrepreneurs selected to attend."
.@IvankaTrump: Just consider, if #India closes the labor-force gender gap by half, your economy could grow by over $150 billion in the next 3 years. #GES2017 pic.twitter.com/KWWk1pKyCU — GES2017 (@GES2017) November 28, 2017
Women, according to Ivanka, can help lead the way in closing this gap and ushering in a new age of greater prosperity.
"We must ensure women entrepreneurs have access to capital, access to networks and mentors, and access to equitable laws," she added.
'US administration committed to supporting women, and men'
Ivanka highlighted what the US is doing to reverse the trend of leadership in entrepreneurship. "The US small business administration increased its lending to women by over 500 million dollars this year alone," she said.
The US administration is fostering mentorship through programmes such as SCORE, a nation-wide initiative where successful men and women coach those who want to become their own CEOs.
"Our administration is striving to promote greater opportunity for women around the world, both through our domestic reforms and our international initiatives," she said.
"At home, our administration is committed to empowering women entrepreneurs through domestic reforms. In the past 11 months, we have expanded apprenticeship programmes and prioritised STEM education to ensure that women—and men—have more opportunities to master the skills that drive progress in the 21st Century," she stated.
The US has dramatically reduced job-crushing regulations which disproportionately hurt entrepreneurs and small business owners, she added.
"And we are laser-focused on passing long overdue tax cuts. This will provide the much-needed relief to working families and businesses of all sizes," she said, adding that in 2017, the president's budget included a proposal to establish a nation-wide programme for paid family leave.
— GES2017 (@GES2017) November 28, 2017
With inputs from PTI
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Updated Date: Nov 28, 2017 19:54:33 IST