GES 2017: Make in India for the world, Modi tells entrepreneurs

He said women entrepreneurs received over three-fourths of the Rs 4.28 lakh crore loans under the MUDRA Scheme since 2015

 

economy policy:Prime Minister Narendra Modi on Tuesday invited global entrepreneurs to invest and make in India.

“To my entrepreneur friends from across the globe, I would like to say, come, make in India, invest in India, for India and for the world. I invite each one of you to become a partner in India's growth story. And once again assure you of our wholehearted support," he said, inaugurating the Global Entrepreneur Summit (GES) here.

The keynote was given by Ivanka Trump, advisor to US President Donald Trump, who is leading a US delegation to the summit. The event, being hosted by the governments of India and the US, is focused on women entrepreneurship; more than half of the 1,500 participants from 150 countries are women.

ALSO READ: GES 2017: Ivanka Trump bats for women power in business

Listing the several initiatives of his government such as Startup India, the goods and services tax (GST), actions on black money and on bankruptcy and insolvency, he said his government has taken several steps to improve the business environment, leading to a jump in the country’s World Bank’s ease of doing business ranking (to 100 from 130 earlier) and improvement in the country’s ratings by Moody’s. He said the government was not satisfied and would strive to improve further to the fiftieth rank on the World Bank rating. “Our StartUp India programme is a comprehensive action plan to foster entrepreneurship and promote innovation. It aims to minimise the regulatory burden and provide support to start-ups. Over 1,200 redundant laws have been scrapped, 87 rules for FDI have been eased in 21 sectors, and several government processes have been taken online,” Modi claimed.

The PM said an environment of transparent policies and a rule of law providing a level-playing field was necessary for entrepreneurship to flourish. “A historic overhaul of the taxation system has been recently undertaken, bringing in the GST. Our Insolvency and Bankruptcy Code is a step towards ensuring timely resolution for stressed ventures. We have recently improved this by preventing wilful defaulters from bidding for stressed assets,” he said, after inaugurating the eighth edition of the GES and the first one to be held in any South Asian country.

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Women first, prosperity for all: What we know of Ivanka's GES 2017 agenda

The Global Entrepreneurship Summit is being held for the first time in South Asia in Hyderabad

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US President Donald Trump's daughter and adviser Ivanka Trump arrived in India amid tight security early on Tuesday to attend the Global Entrepreneurship Summit (GES), beginning here later in the day. Speaking a day ahead of the Global Entrepreneurship Summit (GES), Ivanka Trump said, "as the world's largest democracies... there is much we can and should do together. We share common priorities, including promoting economic growth and reform, fighting terrorism, and expanding security cooperation."

The Global Entrepreneurship Summit is being held for the first time in South Asia in Hyderabad, India, from November 28-30. The event will comprise a line- up showcasing abundant talent, stories of perseverance with a dash of glamour.

Here's all you need to know:

Inaugural session
The inaugural session will be addressed by Prime Minister Modi, Telangana Chief Minister K Chandrasekhar Rao and Ivanka Trump. Following this, a session will be moderated by John Chambers, Chairman Emeritus, Cisco.

This will see the participation of Ivanka Trump, Sibongile Sambo, Managing Director of SRS Aviation and SRS Petroleum and Marcus Wallenberg, the Chairman of Skandinaviska Enskilda Banken (SEB).

Indian bigwigs to attend dinner at Hyderabad's Falaknuma Palace
Hyderabad's Falaknuma Palace has the world's largest dining hall. Prime Minister Narendra Modi will host the White House advisor Ivanka Trump at this luxurious palace today. The who’s who of India Inc, including Reliance Group Chairman Mukesh Ambani, Godrej Group Chairman Adi Godrej and Adani Group Chairman Gautam Adani would attend the dinner, according to officials. PM Modi and Ms Trump will dine at the Hyderabad Nizam's famous '101 Dining Hall' that can seat can seat 101 guests at a time. 

On the second day of GES 2017, Ivanka Trump will be part of a discussion on increasing women in the workforce through skills training, education, and mentorship. Innovators in workforce development and training will discuss what works and what more can be done to open doors for women at the workplace.

GES 2017 - Day 3
The closing session of GES will bring together key influencers that support, promote and fund women entrepreneurs. Panelists will share efforts to advance women in leadership positions and ensure that women have "seats at the table" while breaking down the barriers that disproportionately affect women's ability to start and grow businesses.

It will also feature a panel discussion themed "Women Win, We All Win: Promoting Inclusive Environments for Women Entrepreneurs", which will be moderated by Commerce and Industry Minister Suresh Prabhu.

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