Last Updated: June 30, 2023, 05:59 IST
Russian President Vladimir Putin on Thursday praised Prime Minister Narendra Modi’s ‘Make in India’ initiative, stating the policy has had a truly impressive effect on the Indian economy.
Since its launch in 2014, the Centre’s flagship program has facilitated investment, fostered innovation and enhanced skill development.
Recording substantial accomplishments in strategic sectors, ‘Make in India’ is transforming the country into a global manufacturing and investment destination.
Speaking at an event hosted by a state-funded forum, Putin said it would do no harm to Russia to emulate what is working well in India.
“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,” Putin said at a plenary session of the Agency for Strategic Initiatives (ASI) forum.
“Of course, we need to think about making our products more convenient and functional, with a modern look and properties. Therefore, industrial and product design should become an important resource for the development of domestic business,” he added.
This praise by the Russian president comes a day after External Affairs Minister S Jaishankar, said that India-Russia ties have been very good and it would be a “mistake” to reduce its importance.
“Our relations with Russia have been kept steady despite all turbulence. We have made our own evaluation over the years regarding the importance of this. It is a mistake to dumb down ties with Russia to just defence dependences,” Jaishankar said.
While talking about India’s relationship with Russia, he added India has an upswing in the economic part of its relations with Russia.
Notably, Indian refiners are now swiftly acquiring discounted crude.
According to the news agency Reuters, this shift comes as the West has abandoned the purchase of oil from Moscow in response to its invasion of Ukraine.
Russia has now redirected its energy supplies from traditional European markets to Asia, particularly India and China.