Vice President M. Venkaiah Naidu said on Friday that new technologies are opening new opportunities for women entrepreneurs.

Speaking the National Conclave on Women's Empowerment Through Financial Literacy in Hyderabad, the Vice President said, "Today, the fast changing technology is opening up new vistas and avenues for women professionals and entrepreneurs to excel in their professions."

"We are promoting innovations and start ups by young entrepreneurs. India is second largest global hub of Start ups," he added.

Women entrepreneurs need to fully utilize various opportunities available to them under different schemes such as MUDRA, Stand Up and Start Up to enhance income-generating activities, Naidu said.

I am happy to learn that government as well as private players have come forward to join hands to make India a financially literate and financial inclusive country, he added.

The Vice President asserted that the nation could not accelerate its progress unless women were involved as equal stakeholders in every sphere of activity.

He urged the governments at State and the Centre, NGOs and civic society at large to collectively work towards educating women on financial management.

Naidu said that fastest growing economy like India which was projected by IMF to grow at 7.3 per cent this fiscal and 7.5 per cent in 2020 and is poised to become a US $ 5 trillion economy in next five years, must make women equal partners in that process by creating an enabling framework.

'We must realize that one cannot change social dynamics without women’s involvement in the economy,' he added.

Stressing the need for improving women’s understanding of financial rights, responsibilities and opportunities for income generation, the Vice President said that this was particularly important for a country like India which is witnessing a rapid economic and social transformation.

He observed that educating women and girls about financial services, instilling the discipline of financial investment in them early would not only make them run households better, but would also help bring a turnaround in the fortunes of our country.

Pointing out that gender equality must be the concern of every citizen and not just women alone, Naidu said that empowering women through financial literacy would not only help in bridging the gender gap but would also ensure more secure future for women.

At the same time, it was equally important to impart training and skills to women for economic empowerment, Naidu said.