Co-hosted by India and the United States, the summit is being held for the first time in South Asia, and will highlight India's enabling environment for innovation and entrepreneurship.
The summit will focus on the theme, Women First, Prosperity for All, and supporting women entrepreneurs and the role they play in making communities more prosperous and secure through enterprise. and fostering economic growth globally.
"Our development is intrinsically linked to empowerment of women and it begins with the girl child," Prime Minister Narendra Modi, who will head the Indian delegation to the summit, has said.
The summit will focus on four innovative, high-growth industries - health care and life sciences; the digital economy and financial technology; energy and infrastructure; and media and entertainment.
Conceived by former US President Barack Obama, GES serves as a vital link between governments and the private sector, and convenes global participants to showcase projects, exchange ideas, and champion new opportunities for investment. Relationships formed at past GES Summits have transcended industries and sectors and transformed ideas into enterprises.
"Like India, the United States cherishes innovation and hard work and the freedom for everyone to voice their views," says Alice Wells, head of the US State Department's Bureau of South and Central Asian Affairs.
Ivanka Trump, advisor to the President Donald Trump, will lead the US delegation.
The summit, she says, is "a testament to the strong friendship between our two people and the growing economic and security partnership between the two nations."
"This week, Global Entrepreneurship Week, spotlights the incredible contributions of innovators across the globe. I am excited to join many of these remarkable entrepreneurs with Prime Minister @narendramodi in India," she tweeted.
This is the first time that women will represent 52.5 percent of participants at a GES. While women from 127 countries are joining, more than 10 countries will be represented by an all-female delegation, including Afghanistan, Israel and Saudi Arabia.
"Over the coming decades, technologies such as automation and robotics will transform the way we work, and we want to make sure that women can lead in the economy of the future," Ivanka told the World Assembly for Women in Tokyo early this month, adding that women entrepreneurs could add trillions to the GDP of every economy.
Women make up 40 percent of new entrepreneurs today in the US, the highest percentage since 1996.
Overall, participants hail from 150 countries across the world.
Five percent of entrepreneurs at GES are 30 years old or younger. The youngest entrepreneur is 13 and the oldest entrepreneur is 84.
GES was earlier held in Washington, Istanbul, Dubai, Marrakech, Nairobi, Kuala Lumpur and the Silicon Valley in the US.