Hyderabad: Reiterating US President Donald Trump’s words that “India has a true friend in the White House”, his daughter and adviser to the White House, Ivanka Trump, said reducing gender gap in the labor force by half can help bolster Indian economy by over $150 billion in the next three years.
“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 per cent,” she said while delivering her keynote address at the 8th annual Global Entrepreneurship Summit (GES) in Hyderabad.
In her address, Ivanka heaped praise on Prime Minister Narendra Modi, saying he is doing his best “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… 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 — a remarkable improvement, and one I know will continue to grow under the leadership of the Prime Minister.”
Ivanka also praised PM Modi’s commitment towards the empowerment of women. “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 said, while pointing out that India is one of the fastest growing economies in the world.
Ivanka, a businesswoman and fashion designer, was invited by PM Modi during his visit to the White House in June to speak at the Summit, where she is leading the US contingent . The summit is themed as ‘Women First, Prosperity for All’.
She opened her speech by stressing how all over the world entrepreneurs are “revolutionizing our economies, and improving our societies”. “You are rewriting the rules,” she said and went on to talk about this year’s GES theme. “This year’s Summit is focused 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.”
According to her, women 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.
Interestingly, questions have been raised against her, asking whether her message of empowering poor women matches her actions. Critics have pointed out for her failure to use her leadership role to call out labor and human rights abuses and her reluctance in taking a public stand on alleged abuses in her brand’s own supply chain.
Ivanka also shed light on her country’s efforts in empowering women entrepreneurs. “At home, our administration is committed to empowering women entrepreneurs through domestic reforms. In the past 11 months, we have expanded apprenticeship programs and prioritized STEM education to ensure that women — and men –have more opportunities to master the skills that drive progress in the 21st century,” she stated.
“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 this year, the President’s Budget included a proposal to establish a nation-wide program for paid family leave.
“We are committed to supporting women, and men, who work, inside and outside of the home,” Ivanka added.
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