Russia: On Friday President Vladimir Putin of Russia praised Prime Minister Narendra Modi‘s ‘Make in India’ and the immense success and growth it brought to Indian economy. Putin also mentioned India’s move encourage firms to manufacture, assemble and develop products locally at Russia’s Agency for Strategic Initiatives (ASI) forum in Moscow. Vladimir Putin gave direction for Russia to adopt measures that will encourage manufacture and assembly in the country.
Developing domestic business in Russia
President Putin that ‘Make in India’ had impressive effect on Indian economy and if it wiorking well there is no harm in following suit.
“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.”
He also cited India’s example to encourage local growth of products and brand Russia and said there is need to “offer support tools to help our companies market their products more efficiently.”, which will contribute in growth of domestic business.
‘Make in India’ initiative
It was launched in September 2014 globally to draw global focus on manufacturing in India. As per Ministry of home affairs it is an important component of India’s rise as a global manufacturing hub and aims to make India an essential part of global supply chain.
Putin in his address emphasized need to making products viable to modern requirements and properties. He lauded the Indian example that supports offer to companies to market their products. He also stated that Industrial and product design should become an important resource for the development of domestic business.
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