Addressing an economic forum in Moscow organised by the Agency for Strategic Initiatives (ASI), the President said on Thursday: “Our friends in India and our big friend, Prime Minister Narendra Modi, launched the ‘Make in India’ initiative several years ago. It has had a truly impressive effect on the Indian economy. It would do no harm to emulate what is working well, even if it was not us but our friends who created it,” RT News reported.
Putin made a case for India as he discussed the opportunities for Russian companies due to the West’s sanctions policies, and the need for the Moscow to “offer support tools to help our companies market their products more efficiently”.
Crediting Indian leadership for creating an effective model to develop local manufacturing capabilities and woo foreign investors, Putin emphasized the need to think about “making our products more convenient and functional, with a modern look and properties”.
Industrial and product design should become an important resource for the development of domestic business, RT News quoted the President as saying.
The ‘Make in India’ initiative was launched by Prime Minister Modi in 2014 aimed to to create and encourage companies to develop, manufacture and assemble products made in the country and incentivise dedicated investments into manufacturing.
Putin and Modi last met on the sidelines of a regional security bloc summit in Uzbekistan in September 2022.
–IANS
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