Putin Praised PM Modi: Russian President Vladimir Putin on Friday praised Prime Minister Narendra Modi. He also praised PM Modi’s ‘Make in India’ concept and said that the ‘Make in India’ initiative has had a really impressive impact on the Indian economy.
Putin was speaking at an event in Moscow organized by Russia’s Agency for Strategic Initiatives (ASI), Russian television network RT reported. Putin cited India as an example of a country that encourages companies to develop, manufacture and assemble products locally.
When Putin gives example of Prime Minister Modi’s ‘Make in India’ and the impact it has had on India’s economic fortunes… pic.twitter.com/JnqE7sXvRw
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Putin said that our friend Prime Minister Narendra Modi in India started the ‘Make in India’ initiative many years ago. It has really had a powerful impact on the Indian economy. There will be no harm in imitating the one who is doing good work, even if it is not us who do it but our friends.
Citing the example of India to encourage domestic products and brands in Russia, Vladimir Putin said these things. He appreciated India’s initiative to develop local manufacturing capabilities and create an effective model to woo foreign investors.
What is the effect of Make in India concept?
The effect of PM Modi’s ‘Make in India’ concept can be understood from the fact that instead of buying weapons from abroad, India buys its technology. After purchasing the technology, weapons are manufactured in the country itself, due to which people get employment.
According to reports, defense exports have reached Rs 16,000 crore in the financial year 2022-23, which is 10 times more than in 2016-17. India is now exporting arms to more than 85 countries.
Make in India initiative was launched in 2014
The ‘Make in India’ initiative was launched globally in September 2014. The initiative aims to promote India as the most preferred global manufacturing destination.
According to the Ministry of External Affairs (MEA), the ‘Make in India’ initiative aims to make India an integral part of the global supply chain. It is about making Indian companies excel in the global arena.