Published On: Tue, Nov 28th, 2017

GES reflects US-India economic, security partnership: Ivanka Trump

Hyderabad: The holding of the Global Entrepreneurship Summit (GES) for the first time in India reflects the growing security and economic partnership between America and India, Ivanka Trump, the daughter of US President Donald Trump and his Advisor, said on Tuesday.

She also lauded Prime Minister Narendra Modi for his belief that progress of humanity is incomplete without the empowerment of women

The three-day event, being co-hosted here by the US and India, is being attended by 1,500 entrepreneurs, investors and eco-system supporters from 159 countries.

“This is the first time India has hosted the Global Entrepreneurship Summit. It is a symbol of the strengthened friendship between our two peoples, and the growing economic and security partnership between our two nations,” Trump said in her address at the inaugural session of the GES.

“As President Trump said earlier this year: India has a true friend in the White House,” she noted, without specifying the recent pronouncements of the US administration favourable to India in the area of security, diplomacy and cooperation.

This is the first time that the event is being held in South Asia.

Complimenting India for being one of the fastest growing economies globally, lifting millions out of poverty and for the progress acheived in science and technology, Trump said: “The people of India inspire us all.”

“The people of India have lifted more than 130 million citizens out of poverty. All of you are helping India’s middle class reach its goal of becoming 500 million people by 2030.”

“Its wonderful to be in this ancient city brimming with transformative technology,” she said referring to Hyderabad.

“Now, your tech centers may even outshine your world famous biryani,” she added.

Trump noted that Hyderabad-based startups incubator T-Hub’s “brand new facility is set to open next year and will become the largest incubator in Asia”.

Referring to the theme of the the 8th GES — Women First, Prosperity For All — Trump said this is the “key to our future”.

“I am proud that for the first time ever, women make up the majority of the 1,500 entrepreneurs selected to attend,” she said.

She said much remains to be done with regard to equitable laws for women in many developing, as well as developed countries.

Ivanka said: “When it comes to equitable laws, while many developed and developing countries have made tremendous strides, there is still much work to be done.”

She highlighted that in some countries, women are not allowed to own property, travel freely, or work without the consent of their husbands. In some other countries, the cultural and family pressure is so great that women do not feel the freedom to work outside the home.

“Our administration is striving to promote greater opportunity for women around the world, both through our domestic reforms and our international initiatives,” she said.

She also said that when women work, it creates a “multiplier effect”, and leads to more reinvestment in families and society.

“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.

She also lauded Prime Minister Narendra Modi for his belief that progress of humanity is incomplete without the empowerment of women.

“Just consider, if India closes the labour-force gender gap by half, your economy could grow by over $150 billion in the next three years,” she said.

Ivanka Trump also narrated stories of women entrepreneurs who used technology to change lives, including that of Rajlakshmi Borthakur from Bengaluru, who invented a smart glove that predicts, manages, and detects different diseases and disorders using Artificial Intelligence.

The gloves were invented by Borthakur after her son started getting seizures at a young age. Now her company, Terra Blue, aims to make specialty healthcare accessible in even the most remote places in India.

She also mentioned the stories of Dara Dotz from San Francisco, who co-founded Field Ready to provide life-saving supplies through 3-D printing and Reyhan from Azerbaijan, a 15-year-old who founded a company that harvests energy from rainwater.

The US State Department and other American agencies in partnership with India’s NITI Aayog are organising the GES, which seeks to create an environment that empowers innovators, particularly women, to take their ideas to the next level.

 

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