Smriti Irani-led gender alliance creates buzz in Davos, attracts funds

Aiming to set up a $100 million fund to help one lakh women-owned small businesses across India, former union minister Smriti Irani has garnered $2 million in just two days here. Speaking to PTI at the always-buzzing WeLead Lounge, which many here refer to as ‘Tulsi Lounge’ after her famous screen avatar, Tulsi Virani, Irani said she got an opportunity under Prime Minister Narendra Modi’s leadership to become the first gender minister in 2024 and lead an Indian delegation to Davos. It was the same year that the Alliance for Global Good — Gender Equity and Equality was launched here in partnership with CII and the Gates Foundation, with the World Economic Forum as its network partner.

Now attending the WEF Annual Meeting for the second straight year as founder and chairperson of this alliance, Irani said the idea behind bringing the issues of equity, parity and gender to the streets of Davos was that they also must make economic sense for greater impact. “That’s why in the past two years, at least in Davos, we have not only engaged with 21,000 international delegates, but we’ve also helped create examples in Indian manufacturing terms which can be replicated the world over, especially for servicing the needs of women,” she said. She said the alliance has begun working in areas such as curbing maternal mortality.

“I will also be mindful that the Prime Minister’s agenda is to help small businesses and particularly women who own small businesses. We have launched an ambitious program called Spark, spanning around 300 cities in India, with the intention of helping 1 lakh women-owned businesses. “We are looking for commercial capital, and our ambition is to set up a $100 million fund to help bring commercial success to these women-owned small businesses. “I’m happy to report that in the past 48 hours, we’ve managed to garner $2 million for such women-led enterprises in India,” she said.

Irani said Prime Minister Modi has also been vocal about the need to take the traditional medicine systems of India to global platforms.“I’m extremely proud that this alliance has become a platform for launching a $40 million investment into women’s wellness for hormonal health, bone health and brain health of women in our country, based on Ayurveda practices,” she said.This investment is in the field of neutraceuticals for women, and it will be made in India, she added.

On the new law providing reservation for women in the legislature, Irani said this is a historical move which brings about equal capacities and abilities between men and women to serve our country better.

“I honestly have to profess that in my entire political journey, I never imagined there would come a day when I would be there in the Union Cabinet. The fact that I’ve been part of that history makes me feel extremely privileged,” she said.She said it is now incumbent upon us, as people and citizens, to ensure that we highlight to the political ecosystem in our country, the women of potential or those who’ve already served in larger public spaces.

Asked about her return to TV screens, Irani said it was an experiment.“I had a legacy of 25 years, and not many TV and political personalities can have two successful conversations, ambitions and careers that can go hand in hand.Asked whether there could be more in the offing, she said, “From Smriti Irani, always expect more. I’m very blessed that I could create legacies in two different fields.”