Russian President Putin Applauds 'Make in India' Initiative for Boosting Indian Economy

Russian President Putin Applauds 'Make in India' Initiative for Boosting Indian Economy

Russian President Vladimir Putin has expressed admiration for Indian Prime Minister Narendra Modi's 'Make in India' initiative, acknowledging its significant positive influence on the Indian economy.

During a forum organized by Russia's Agency for Strategic Initiatives (ASI) in Moscow, Putin cited India as a prime example of a nation successfully encouraging local development, manufacturing, and assembly of products .

'Make in India' Initiative's Impressive Impact on Indian Economy

Speaking at the forum, Putin highlighted the remarkable effects of the 'Make in India' initiative, lauding Prime Minister Modi and referring to the positive transformation it has brought about in the Indian economy.

He suggested that other countries could learn from India's success in promoting domestic manufacturing and urged the emulation of effective strategies pioneered by friends .

India's Focus on Domestic Products and Brands Recognized by Putin

President Putin also commended India's efforts to foster the growth of domestic products and brands in Russia. He acknowledged the importance of providing support tools to help Russian companies market their products more effectively.

Putin emphasized the need for enhancing the convenience, functionality, modernity, and aesthetic appeal of products, with industrial and product design playing a vital role in the development of domestic businesses.

'Make in India' Initiative's Objectives and Achievements

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

The initiative has brought about a series of measures to enhance the ease of doing business in India, thereby attracting foreign investments and promoting the growth of domestic manufacturing capabilities (Ministry of External Affairs - MEA).

Important Facts:

• Russian President Vladimir Putin praised Prime Minister Narendra Modi's 'Make in India' initiative.

• Putin said that 'Make in India' has had a truly impressive effect on the Indian economy.

• Putin called for Russia to emulate the 'Make in India' model.

• Putin said that Russia needs to improve ease of doing business.

• Putin said that Russia needs to make products more convenient and functional.

Additional Information:

• The 'Make in India' initiative was launched in September 2014.

• The objective of the initiative is to promote India as the most preferred global manufacturing destination.

• The 'Make in India' initiative aims to make India an integral part of the global supply chain.

• The Government of India has taken up a series of measures to radically improve ease of doing business.

• The Aadhaar-PAN link deadline is today, March 31, 2023.

• Defaulters' PAN Card will become inoperative after the deadline.

• Nifty and Sensex touched fresh lifetime highs on March 30, 2023.

• Bank Nifty also reached a new peak.

Conclusion

Russian President Vladimir Putin's commendation of Prime Minister Narendra Modi's 'Make in India' initiative reflects the initiative's remarkable impact on the Indian economy.

The recognition and appreciation from a global leader such as Putin highlight India's efforts to encourage local manufacturing, attract foreign investments, and promote domestic products and brands.

As India continues to prioritize manufacturing and ease of doing business, the 'Make in India' initiative plays a crucial role in driving economic growth and positioning India as a significant player in the global manufacturing sector.