GES summit 2017: 10 key takeaways from Narendra Modi, Ivanka Trump speeches

This is the 8th GES event to bring together entrepreneurs, investors and ecosystem supporters for mentoring, networking and investment matchmaking.

Business News : The three-day Global Entrepreneurship Summit (GES) 2017 started on Tuesday, November 28, with Prime Minister Narendra Modi and US President Donald Trump’s daughter and advisor Ivanka Trump — who jointly inaugurated the event in Hyderabad — calling for more women across the world to become entrepreneurs.

This is the 8th GES, meant to bring together entrepreneurs, investors and ecosystem supporters for mentoring, networking and investment matchmaking. This is the first time that the event is being held in South Asia.

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Here are the key takeaways from the Ivanka Trump and Narendra Modi speeches at the summit:

1. Women First, Prosperity For All – Ivanka

2. Modi living proof that transformational change is possible: Ivanka

3. Hyderabad – City of Pearls

4. The people of India inspire us all

5. Ivanka highlights difference between women entrepreneurs in the US and developing nations

6. Modi pays tribute to contribution of women in India

7. India has been an incubator for innovations over the ages: Modi

8. World Bank’s Ease of Doing Business Report

9. Invest in India – for India

10. Insolvency and bankruptcy codes and GST

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Business News India : External Affairs Minister Sushma Swaraj welcomed the delegates who attended the GES2017 and hailed the Ivanka-led US delegation for their efforts to promote entrepreneurship program on a global level. “I would like to thank Ivanka Trump, co-host of this summit. She represents energy & spirit of an entrepreneur that characterises the youth of today,” she said.

“I have no doubt that under the leadership of PM Modi and President Trump India and US relations will reach new heights & contribute to global peace & prosperity,” she added.

Click to Read → Global Entrepreneurship Summit 2017

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.

Business News : 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  2017 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.

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.

Click to Read → Ivanka on Women Empowerment

Ivanka opens GES 2017 today: For global majors, all roads lead to Telangana

NITI Aayog CEO said summit was meant to help create an enabling ecosystem where entrepreneurs can innovate, forge global partnerships and grow.

Business News : Hyderabad, the capital of Telangana, is all dressed up to welcome Ivanka Trump, who’s leading the US delegation for the eighth edition of the Global Entrepreneurship Summit. From Taj Falaknuma, venue for state dinner to be hosted by Prime Minister Narendra Modi, to Hitec City, where the summit is being organised for the next three days, Ivanka is the theme. But that’s not the only global attention that the city has been getting.

A senior official in the Telangana government pointed out that leading global brands such as Amazon, Walmart and IKEA are investing top dollars here. American retail major Walmart, which set up its first Hyderabad store a few years ago before Telangana happened, is gearing up to open two to three more cash and carry outlets in the city.

GES 2017: Ivanka Trump Reaches Hyderabad

“Hyderabad is a three-to-four-store market for Walmart,” a company executive told Business Standard. There’s no other city in India that Walmart has so far identified as a three-to-four-store market. Agra and Bhopal have two Walmart stores each and that’s the highest so far for any city.

Seattle-based e-commerce giant Amazon, too, has been upbeat on Telangana. The Jeff Bezos-led group set up India’s biggest fulfilment centre in Hyderabad some six months ago, spread over nearly 400,000 sq ft with close to 2.1 million cubic feet of storage space. Along with this, Amazon has five fulfilment centres in Telangana offering around 3.2 million cubic feet of storage. Also, its biggest campus, anywhere outside the US, will be ready at Gachibowli (Hyderabad) in 2019.

Click to Read → GES 2017