On November 28-30 in Hyderabad, India and the US will jointly host the Global Entrepreneurship Summit. This is the eighth annual summit which was the brainchild of former US President Barack Obama. It has been held in other locations such as Istanbul, Dubai and Silicon Valley. The theme for this year’s Summit is “Women First, Prosperity for All”.
The Summit provides India and Hyderabad an excellent opportunity to showcase the exceptional progress and achievements that have been made by Indian entrepreneurs in a number of areas such as information technology, media and entertainment, and health-care and life sciences.
It also provides the chance to call attention to the fact that there is a need to do much more in India in order to put Indian women entrepreneurs first.
The Modi administration has placed some emphasis on women entrepreneurs.
For example, in April, the administration launched a Stand-up India scheme which provides loans from Rs 10 lakh to Rs 1 crore to women entrepreneurs and entrepreneurs from the scheduled castes and scheduled tribes (SC/ST). The Stand-up India programme is projected to reach up to 250,000 borrowers.
In spite of an increase of women business owners and operators over the past several years, entrepreneurship still remains a male bastion in India. A recent study by the National Sample Survey Organisation found that only 14 per cent of Indian business establishments are run by females. The same study disclosed that most of the women-run businesses — 79 per cent — were self-financed.
The Global Entrepreneurial Summit will place the spotlight on the achievements of India’s entrepreneurs and the significant contributions they have made to build the country’s economy.
The Summit can also be used as a magnifying glass to increase the focus placed on women entrepreneurs.