Economy

PM invites global entrepreneurs to make India their base for the world

V RISHI KUMAR G NAGA SRIDHAR Hyderabad | Updated on January 09, 2018 Published on November 28, 2017

Ivanka Trump, Advisor to the US President, addressing the Global Entrepreneurship Summit 2017, in Hyderabad - Photo: G RAMAKRISHNA

Step up capital access to women entrepreneurs: Ivanka Trump

Prime Minister Narendra Modi today called upon entrepreneurs from across the globe to make India their base for the world.

Addressing the inaugural session of the Global Entrepreneurship Summit 2017 here today, he said, “India has emerged as one of the fastest-growing economies and a happening place with immense opportunities in a number of areas. I assure you of government support to ensure your success.”

Referring to the recent upgrade by Moody’s rating and India’s improvement by 42 places in the World Bank’s Ease of Doing Business ranking, Modi said: “Our immediate focus is on further simplifying processes and taking up the ranking to 50 in EoDB.”

“The reform process is being accelerated, with more than 1,200 laws scrapped. Yet, I am not happy with the pace of reforms and am keen to accelerate them to make India a better place to invest,” he said.

Highlighting the progress in the renewable energy sector, Modi said, “We are in the process of finalising a comprehensive energy policy.”

Ivanka Trump, Advisor to US President Donald Trump, said there is a need to ensure access to capital, networks, mentors and equitable laws for women entrepreneurs.

Citing a study, Trump’s daughter stated that there was nearly $300 billion annual credit deficit for women entrepreneurs in the developing world. However, in the last decade, women have made ‘remarkable’ strides in starting new businesses.

Globally, between 2014 and 2016, entrepreneurship activity among women increased by 10 per cent.

Fuelling the growth of women-led business will augur well not only for society but for the economy, she observed.

Telangana Chief Minister K Chandrashekar Rao said the State has become an attractive investment destination where top five global tech companies — Apple, Google, Microsoft, Amazon and Facebook — have set up their base. Union Minister of External Affairs Sushma Swaraj proposed a vote of thanks to the 1,500 delegates from 150 nations, of whom 54 per cent were women.

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Published on November 28, 2017
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