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Address gender gap, India will be richer by 150bn: Ivanka
It’s all the way Ivanka Trump, who has been the star attraction for the GES-2017 right from its schedule announced till date, in her keynote address impressed entire august gathering and those watched the event on TV. Ivanka made some keen observations on women’s contribution to the GDP and the plight of women entrepreneurs being faced across the world.
Hyderabad: It’s all the way Ivanka Trump, who has been the star attraction for the GES-2017 right from its schedule announced till date, in her keynote address impressed entire august gathering and those watched the event on TV. Ivanka made some keen observations on women’s contribution to the GDP and the plight of women entrepreneurs being faced across the world.
Speaking at eighth edition of Global Entrepreneurship Summit (GES-2017) at HICC here on Tuesday, Ivanka highlighted the economy benefit from bridging the gender gap. She forecasts that “Indian GDP can grow by $150 billion in the next three years if the country manages to bridge the gender gap by half. If it’s done across the world, then global GDP could grow by over two per cent.”
Ivanka applauded Prime Minister Narendra Modi for his contribution to making India a vibrant nation. Highlighting Indian rocket technology that reached Moon and Mars these days, Ivanka reiterated President Tump’s saying that India is a true friend at White House.
World’s largest democracy is into 70 years of independence and it’s a beacon of democracy and a ray of hope to the world, she said.
Success stories
This is not a mere keynote address, but Ivanka successfully brought in life to the whole gathering at the inaugural session as she had introduced few successful live examples from women-led startups to the participating delegates. Ivanka further went on to highlight the works and contribution to social change by three women Dara Dotz from San Francisco, Rajlakshmi Borthakur from Bengaluru and Reyhan Camalova from Azerbaijan, and introduced them to the summit. The 15-year-old Reyhan set up a company for harvesting energy from rainwater. Congratulating them, Ivanka said: “Women entrepreneurs are saving lives and creating jobs as well.”
Plight of women entrepreneurs
Elaborating further on the obstacles that women entrepreneurs face, Ivanka said: “The problems are same whether in the US, India or some other country. Still many parts of the world, women are denied to own property. In developing nations, over 70 per cent of women entrepreneurs were denied lending support by banks and financial institutions. This puts estimation of annual credit deficit for women in these countries at $300bn.” Ivanka wants to reverse this situation and elaborated measures being taken to address these challenges.
“We must ensure access to capital, network, mentors and equitable laws. Starting, owning and growing are three phases through which women transform into successful entrepreneurs. We’re fostering mentorship to budding women entrepreneurs in the US. The US government along with World Bank is facilitating funding support to women entrepreneurs. We also supported the micro-finance facility in countries like Afghanistan and Nigeria.”
The US President Donald Trump’s daughter and advisor to the White House, further said: “The number of women entrepreneurs globally rose by 10 percent. When it comes to the US, it grew 45 per cent to 11 million in the US and generated about 9 million jobs contributing $1trillion revenues to the US economy. Women entrepreneurs can fuel the economy growth. The US Small Business Administration has increased its lending support to women by $500million this year.”
Showering praise on PM Modi
Ivanka in her speech highlighted the success story of Prime Minister Narendra Modi by saying he used to sell tea and now leading India. “What you are achieving is truly extraordinary. From your childhood selling tea to election as India’s Prime Minister,” she said. "Through your own enterprise, entrepreneurship and hard work, the people of India have lifted more than 130 million citizens out of poverty, which is a remarkable improvement, and one I know will continue to grow under the leadership of Prime Minister," Ivanka said further.
“Here in India, I want to applaud Prime Minister Narendra Modi for his firm belief that 'the progress of humanity is incomplete without the empowerment of women'," she stressed. India, she said, is one of the fastest growing economies in the world and has a true friend in the White House.
