India to Focus on Fostering Youth Entrepreneurship, G20 Young Entrepreneur Summit in Toronto, India Will Focus on Youth Entrepreneurship, Fostering Youth Entrepreneurship in India

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SME Times News Bureau | 24 Jun, 2010
India's strength as one of the most enterprising nations with inclusive entrepreneurial drive that includes bottom of the pyramid innovations that drive social economic growth was highlighted during the multilateral discussions at the G20 Young Entrepreneur Summit in Toronto, Canada by CII's Young Indians (Yi) and Bharatiya Yuva Shakti Trust (BYST).

Yi and BYST are representing India at this very unique and historic summit.

Representatives of the G20 nations deliberated over two days on the key challenges facing the development and growth of entrepreneurship in their respective countries and discussed and agreed upon an appropriate coordinated response to these issues.

This final communique will be used to call upon leaders of governments participating at the G20 Business Leaders Summit at Toronto to recognize the imperatives and to pledge their support for action.

The issues identified include affordable institutional access to finance, need for a collaborative platform that integrates key stakeholders and services the needs of entrepreneurs, working to build and celebrate an entrepreneurial culture, creating a supportive tax and regulatory ecosystem that promotes business growth and focus on developing a comprehensive system of education and skills training to encourage new ventures.

"Entrepreneurship at macro and micro level is essential in creating economic resurgence in today's global economic scenario. More importantly the Indian entrepreneurial model is key to an inclusive approach to wealth creation that is necessary to address the income inequalities in the world today. Our discussions here at the G20 YES have paved the way for the creation of a collaborative platform of young organizations from the G20 nations who will drive the focus on entrepreneurship in their nations to create an inclusive model of wealth creation and also to support the nations beyond G20 to foster entrepreneurship," said Ms Bhairavi Jani, President, Indian Delegation & CII National Chairman, Yi.