‘Make in India’ Had Visible Effect on Indian Economy: Putin Praises ‘Big Friend’ PM Modi

Russian President Vladimir Putin praised Prime Minister Narendra Modi and commended the significant impact of his 'Make in India' initiative on the Indian economy.

Putin expressed his admiration during a forum organised by Russia's Agency for Strategic Initiatives in Moscow, as reported by the Russian television network RT.

Referring to India as an exemplary country that encourages local development, manufacturing, and assembly of products, Putin highlighted the need to emulate successful strategies, even if they were formulated by others. He specifically mentioned the 'Make in India' initiative launched by Prime Minister Modi, acknowledging its impressive effects on India's economy.

In addition, Putin underscored the importance of supporting Russian companies in marketing their products more efficiently, drawing inspiration from India's approach to promoting domestic products and brands. He commended India's effective model for fostering local manufacturing capabilities and attracting foreign investors.

Putin emphasised the significance of enhancing product convenience, functionality, modernity, and design, considering industrial and product design as valuable assets for domestic business development, as reported by RT.

Launched globally in September 2014, the 'Make in India' initiative aims to position India as a preferred global manufacturing destination. The objective is to integrate India into the global supply chain and empower Indian companies to excel in a globalized workspace.

The Ministry of External Affairs (MEA) has stated that the initiative encompasses measures to improve the ease of doing business, driving India's economic growth.