00:00Davos is a place where today 3,000 leaders from across the world, of which 850 are global CEOs, heads of states, have all come together on issues which oscillate from technology, the future of jobs, to sustainability.
00:18I particularly focus on equity. For too long, conversations have happened around rights of women. I believe that when enterprise meets equity, economies flourish.
00:31I am very proud that as chairperson of the Alliance for Global Good, which is particularly focused on gender, we at the World Economic Forum have managed to create support for 100,000, 1 lakh women-owned businesses back home in India.
00:48We are hoping that investment opportunities, including commercial capital, comes for these women particularly who own very small businesses.
00:58For too long, philanthropy has supported, government has supported such small initiatives by women. Our endeavor is that commercial institutionalized financial institutions and instruments come to India, to those 300 cities, and help women who are hoping to grow in their entrepreneurial journey.
01:20What is the range of loans they are getting and what kind of businesses they are doing?
01:24I'll give you an example. Two years ago, we helped one lady start a business with 1 lakh rupees. Today, she is valued at 80 crore rupees.
01:35Just yesterday, we had a young girl that we were hoping leads a big investment in Ayush. An announcement of 350 crores was made for women's health, brain health, hormonal health, and bone health.
01:53This is the largest investment ever announced, especially for Ayush and women's wellness. That was the dream of the Prime Minister, that even traditional medicine systems like Ayush find international not only platforms, but also investment.
02:08So we in the alliance, our support oscillates between small needs of women with small businesses to those women who can find enough capital to do breakthrough work, especially in the field of women's health.
02:26Are your alliance tying up with banks or financial institutions?
02:30Yes. There have been many financial institutions, including investment bankers that have stepped up, and we are very happy that we can present a case for small businesses in India, and especially those that are owned and led by women.
02:46Davos is not a place for small businesses, they say. Well, we've made a space for them.
02:51You said about 1 lakh women have been benefited.
02:54We are creating the capital to help 1 lakh women own businesses. It's a program called Spark, and I'm glad that we found such overwhelming support here at the World Economic Forum for it.
