Prime Minister Narendra Modi’s flagship ‘Make In India’ initiative aimed at giving an impetus to manufacturing in India and transforming India into a global manufacturing hub has drawn global attention for its remarkable success. On Friday, Russian President Vladimir Putin lauded the “impressive” impact of PM Modi’s Make In India initiative on the Indian economy.
While addressing the audience at an event organized by Russia’s Agency for Strategic Initiatives (ASI) President Putin stressed the need of offering support tools for Russian companies to market their products much more efficiently by articulating their mission, the value of the good, and a sense of positive emotion—pride among Russians regarding the Russia-made products. For this, Putin cited the example of his “great friend” Prime Minister Narendra Modi and how his concept of Make In India launched several years ago has had an impressive effect on the Indian economy.
“Our friends in India and our great 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,” the Russian president asserted.
❗️President Putin Hails “Great Friend” Modi and Make in India
— RT_India (@RT_India_news) June 29, 2023
Speaking at an event in Moscow, the 🇷🇺 President drew on India’s fine example to encourage domestic products & brands in Russia.#VladimirPutin #PMModi pic.twitter.com/IVJg8u11R4
This, however, is not the first time that Putin has lauded the Make In India initiative. In October last year, President Putin hailed PM Modi as a patriot and pointed out the economic and ethical significance of PM Modi’s ambitious Make In India initiative.
“A lot has been done under the leadership of PM Modi. He is a patriot of his country. His idea of ‘Make in India‘ matters both economic wise and in ethics. Future belongs to India, it can also be proud of the fact that it’s the largest democracy in the world,” Putin said back then.
Make In India
As part of India’s renewed focus on manufacturing, the ‘Make in India’ initiative was launched in September 2014. The Initiative’s goal is to promote India as the most preferred global manufacturing destination. Since the launch of this historic initiative, the Narendra Modi government has implemented a number of reform initiatives to create a conducive environment for manufacturing, design, innovation, and startups.
As the program completed eight years in September 2022, the government released numbers indicating the accomplishments of Make In India. Foreign Direct Investment (FDI) inflows totaled $45.15 billion in the first year of the ‘Make in India’ scheme. The fiscal year 2021-22 saw the highest-ever FDI inflows of $83.6 billion.
