Strengthening India-Ireland Bilateral Ties by Promoting Women Entrepreneurship

New Delhi: “Women represent the world’s largest market opportunity and control over 20 trillion dollars. The number of women entrepreneurs globally stands at 13% reflecting an increase in female representation across public & private sector” said H.E. Mr. Sandeep Kumar, Ambassador of India to Ireland. He also discussed various challenges faced by women entrepreneurs such as cultural & political barriers, lack of training & mentoring during the interactive session with members of FICCI FLO.

India & Ireland Women Entrepreneur Conclave was organised by FICCI FLO in association with Network Ireland as a part of FLO’s Women of 7 Continents (W7) initiative.

“Investing in women led ventures makes good business sense. Today women are present across the global value chain as producers, business owners, employees, executives, distributors & consumers. India and Ireland have a strong bilateral relationship and we further look at increasing this association across trade, healthcare, IT, and engineering among others” He further added.

“Our commercial ties with India have remained strong despite the pandemic, and in 2021, we are on course to see growth in trade & business exchanges” said, H.E. Brendan Ward, Ambassador of Ireland in India .

“Both countries have worked towards accelerating women’s participation in the process of economic development by promoting Entrepreneurship & professional excellence” said, Jahnabi Phookan, National President FICCI FLO .

“India & Ireland both have diverse group of women from budding entrepreneurs, SME owners, professionals & leaders in indigenous & multinational organisations” She further added.

The conclave aimed at providing a platform for professional women to elaborate on the contribution of women entrepreneurs towards the economy, creating platforms for increasing international trade, integrating women vendors into global value chains, increasing awareness among policy makers, of the potential of women entrepreneurs and raising awareness of related barriers that hamper their participation in international trade. The session was moderated by Rinku Mecheri, Chapter Chair, FLO Chennai.

India Ireland bilateral trade for 2019 stood at Euro 1.2 bn (+25.82%). India’s exports to Ireland stood at Euro 636 mn (+13.58%) and imports from Ireland at Euro 480 mn (+46.80%). Some of the items in demand in Ireland include textiles, garments & clothing accessories, pharmaceuticals, medical devices, machinery, light engineering goods, plastics among others. Trade in services between India and Ireland has emerged as a major facet in economic relations.