Reducing gender gap in labour force by half can boost Indian GDP: Ivanka Trump
Prime Minister Narendra Modi and Ivanka Trump, US President Donald Trump's daughter and adviser, inaugurate the three-day Global Entrepreneurship Summit in Hyderabad.
Addressing a huge gathering of Entrepreneur from across the country Ivanka said that "In the city of pearls the biggest treasure is you (points at the audience)... You are rewriting the rules. The people of India inspire us all."
"Proud to say that women make up for 50% of the entrepreneurs present at the summit. Only when women are empowered to thrive; will our families, our economies, and our societies reach their fullest potential," she said.
"In the last decade, women have made remarkable strides in starting new businesses... Today, more than 11 mn women in the United States own businesses. They employ nearly 9 mn workers, and generate over $1 trillion in revenue," she further said.
"India is truly an inspiration to all of us all over us the world. Through innovative talent and entrepreneurial ability, you have made remarkable strides" Senior Advisor to the US President Ivanka Trump said.
We must ensure that women entrepreneurs have access to capital, networks, resources and equitable laws. When women work, it creates a unique multiplier effect. Women are more likely than men to hire other women, and to give them access to capital, mentorship and networks.Women are also more likely to reinvest their income back in their families and communities, she said.
Indian GDP could grow by more than $150 billion in the next three years if it halves the labour force gender gap.
In her keynote address at the 8th annual Global Entrepreneurship Summit (GES), she showered lavish praise on Prime Minister Narendra Modi who is "doing to build India as a thriving economy a beacon of democracy and a symbol of hope to the world. What you are achieving is truly extraordinary".
"What you are achieving is truly extraordinary... from your childhood selling tea to election as India's Prime Minister," she said.
The world's largest gathering of young entrepreneurs is being co-hosted by India and the United States.