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    HomeWorld News"Putin Commends PM Modi's "Make in India" Initiative, Cites Russian Automakers as...

    “Putin Commends PM Modi’s “Make in India” Initiative, Cites Russian Automakers as Example”

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    Putin Commends PM Modi's "Make in India" Initiative, Cites Russian Automakers as Example

    In a show of admiration for India’s “Make in India” initiative, Russian President Vladimir Putin lauded Prime Minister Narendra Modi’s policies during a meeting in the Russian port town of Vladivostok. Putin’s commendation came as a response to a media query about Russian-made cars during his address at the 8th Eastern Economic Forum (EEF).

    Putin voiced his support for the principle that domestically produced automobiles should be prioritized. He noted that India, under the leadership of PM Modi, has already set commendable examples through its policies. Putin emphasized that using domestically made vehicles is a sensible approach that aligns with economic and industrial development goals.

    During his address at the forum, President Putin stated, “I think that we should emulate many of our partners, for example, India. They are focused on the manufacture and use of Indian-made vehicles. I think that Prime Minister Modi is doing the right thing in promoting the Make in India program. He is right.”

    Putin further emphasized that it is entirely acceptable to utilize Russian-made automobiles, clarifying that this practice does not conflict with their obligations under the World Trade Organization (WTO) agreements. He highlighted that this approach primarily concerns state purchases, suggesting that specific regulations could be established to determine which types of vehicles various classes of officials can use, ultimately promoting the use of domestically produced cars.

    Additionally, President Putin discussed the India-Middle East-Europe Economic Corridor (IMEC) during his address. He expressed a positive outlook on the project and its potential benefits for Russia’s logistics and economic development. Putin emphasized that the IMEC had been under discussion for several years and saw no hindrance to Russia’s interests in the corridor. He noted that although the United States recently joined the project, its involvement seemed driven primarily by business interests.

    The IMEC initiative gained momentum after India, the United States, Saudi Arabia, and the European Union signed a Memorandum of Understanding (MoU) on the sidelines of the G20 Summit in New Delhi. This historic agreement aims to establish a substantial shipping and railway connectivity corridor spanning India, the Middle East, and Europe. Prime Minister Narendra Modi announced the ambitious project, heralding it as a groundbreaking step toward economic integration between India, South Asia, and Europe.

    Putin’s recognition of India’s “Make in India” program highlights the growing importance of economic and industrial cooperation between the two nations, reflecting the potential for strengthening bilateral ties in various sectors.

    Sources By Agencies

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