GES 2017: Ivanka Trump bats for women power in business

Ivanka Trump during the inauguration of the Global Entrepreneurship Summit 2017 in Hyderabad

Prime Minister Narendra Modi and Ivanka Trump, US President Donald Trump’s daughter and presidential advisor, attended a gala dinner at the Falaknuma Palace here on Tuesday evening.

Top captains of Indian industry and several budding entrepreneurs attended the dinner hosted by Modi. Mukesh Ambani, chairman of Reliance Industries; N Chandrasekaran, chairman of Tata Sons; Sunil Bharti Mittal of Bharti Airtel; Uday Kotak, managing director of Kotak Mahindra Bank; Shobana Kamineni, CII president, and Vice-Chairman at Apollo Hospitals and its founder Pratap C Reddy attended the dinner that was served at the hotel's iconic 101-chair dining hall, said sources. Telangana Chief Minister K Chandrashekar Rao was also present. 

Famous for its huge Nizam-era table which can seat 101 guests at a time, the palace-turned-plush hotel is one of the key landmarks of the city. A separate dinner was arranged for around 1,500 delegates of the GES on the lawns of the palace. Trump is scheduled to leave the city on Wednesday evening.

Addressing GES delegates earlier in the day, Trump made an appeal for ending the disadvantages faced by women entrepreneurs the world over. “As a former entrepreneur, employer, and executive in a male-dominated industry, I have seen first-hand that all too often, women must do more than their male counterparts to prove themselves at work, while also disproportionately caring for their families at home.”

Trump was all praise for India and its leadership for bringing the economy and entrepreneurship to the centre stage with the aim of expanding opportunities for people and lifting them out of poverty. “From your childhood selling tea to your election as India's prime minister, you have proven that transformational change is possible. And now you are bringing that promise to hundreds of millions of people across your country,” she said, addressing Modi.

Referring to the summit’s theme, Women First, Prosperity for All, Trump said growth of women-led businesses was not just good for society but could also expand global GDP by as much as 2 per cent. Trump said countries must ensure women entrepreneurs had access to capital, networks and mentors, and provide equitable laws. “After my father's election, I saw an opportunity to leave my businesses for the privilege of serving our country and empowering all Americans, including women, to succeed.”

Trump pointed out 70 per cent of women-owned small and medium-sized businesses in developing countries were denied access to capital. The result was a nearly $300-billion annual credit deficit for women entrepreneurs in the developing world, she said.

She called out the names of a couple of young women entrepreneurs, including Rajalakshmi Borthakur from Bengaluru, for putting their innovative ideas into action, despite difficulties.