Russian President Putin commends Prime Minister Modi’s ‘Make in India’ program
Putin has complimented India's 'Make in India' effort and stated a willingness to follow in its footsteps in encouraging indigenous businesses, particularly the car industry.
Prime Minister Narendra Modi is appropriately promoting the Make in India program, according to Russian President Vladimir Putin, who added this on Tuesday while speaking at the 8th Eastern Economic Forum (EEF) in Russia’s port town of Vladivostok. In answer to a question from the media about Russian-made vehicles, Putin stated that domestically produced cars must be used and that India has already set an example through its policies under PM Modi.
According to the report by ITN Putin said, “You know, we did not have domestically made cars then, but we do now. It is true that they look more modest than Mercedes or Audi cars, which we bought in vast amounts in the 1990s, but this is not an issue. I think that we should emulate many of our partners, for example, India.”
“They are focused on the manufacture and use of Indian-made vehicles. I think that Prime Minister Modi is doing the right thing in promoting the Make in India programme. He is right,” he added.
It is fine to use Russian-made automobiles Putin remarked
Putin said, “We have (Russian-made) automobiles, and we must use them; this is absolutely fine. This will not lead to any infringements of our WTO obligations, absolutely not. It will concern state purchases. We must create a certain chain regarding what cars different classes of officials can drive so that they will use domestically-made cars,” as reported by the ITN.
The Russian President claimed that nothing about the India-Middle East-Europe Economic Corridor (IMEC), which was unveiled in New Delhi alongside the G20 leaders’ summit, could harm his nation and that he only saw advantages for it. The IMEC comprises an Eastern Corridor connecting India to the Gulf region and a Northern Corridor connecting the Gulf region to Europe. It will include a railway and ship-rail transit network and road transport routes.
India, the US, Saudi Arabia, the UAE, the EU, Italy, France, and Germany all signed an MOU on IMEC. The initiative has been discussed for numerous years, the Russian President continued, adding that the IMEC would benefit his nation in developing logistics.
Make In India
To promote investment, encourage innovation, improve skill development, safeguard intellectual property, and create world-class manufacturing infrastructure, Prime Minister Modi launched the “Make in India” campaign in 2014.
The “Make in India” project is built on four pillars that have been identified as having the potential to stimulate entrepreneurship in India across a variety of industries, not only manufacturing. India’s retail stores could possibly open in Russia, says Russian President Vladimir Putin
