A diverse group of international business leaders recently convened a discussion at the ET NOW Global Business Summit 2024, focused on how the private sector can promote stability, nurture talent, and pave the way for broader global cooperation.
Participants highlighted research showing that companies with greater gender diversity and women in leadership perform better financially. Cultivating future female talent and bringing more women into technical fields were seen as imperative for businesses seeking to thrive in an increasingly high-tech world.
A captivated audience listened as female leaders from across India gathered recently in New Delhi to discuss getting more young girls into coding and technology. While women make up half of India’s 1.5 billion citizens, they remain severely underrepresented in the country’s fast-growing tech sector.
The present panelists drilled down on the reasons behind India’s STEM gender gap and highlighted coded education models aimed at India’s youth. There was consensus that early and active technology education allows students to shift from passive tech consumption to empowered tech creation.
Overall a spirit of cooperation and commitment to equitable, sustainable development through strategic training and recruitment emerged from the gathering of executives seeking global peace through inclusive business.
Ambassador Roberto Azevêdo, Founding partner at YvY Capital and former Director General World Trade Organization (WTO) noted that companies often don’t realise how important a role they can play and how they can shape public policy, even foreign policy. He highlighted how supply chains have been disrupted in recent years by geopolitics, pandemics, climate impacts, and unpredictable regulations. According to Azevêdo, “This brings unpredictability. We don’t know what the regulations are going to look like in other countries where you market products.” He advised, companies to “talk to governments and think about the future.”
Ms. Patrycja Pendrakowska, Head of the Boym Institute and Analyst of China’s Foreign Policy and Economy, Poland also discussed the challenges of evaluating the impact of foreign policy decisions and peace efforts, stating “How can you measure your contribution to peace actions? There is no discussion about alternatives.” She suggested companies can push for more effective policies, saying “Maybe if there were different decisions taken, relations would be better.”
Other participants emphasised the value of trade ties and cultural bonds in bringing stability.
Indian Business Chamber of Luxembourg president Aditya Sharma shared an example of Polish refugee children brought to India during World War II, stating “When Indians come to know about it, they naturally feel connected and want to do more business with India.” He advised “If we try to link countries through cultural common points, that brings a natural background for peace.”
The business leaders agreed on the need for companies to think long-term and work with governments to evaluate the impact of policy decisions on stability and cooperation across borders. Developing cultural and trade ties was seen as vital for laying the foundation for lasting peace.
