Russian President Putin Hails "Impressive" Success Of PM Modi's 'Make In India' Initiative, Calls for Emulation

Russian President Vladimir Putin has said that Prime Minister Narendra Modi's 'Make in India' initiative has had a "impressive effect" on the Indian economy.

While speaking at an event in Moscow, Putin acknowledged India's Prime Minister Narendra Modi as a great friend of Russia and highlighted the significant impact of the 'Make in India' on the Indian economy.

Russian president Vladimir Putin cited India as an example of a country encouraging companies to develop, manufacture, and assemble products locally, according to RT.

"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, according to a statement by Kremlin.

Putin made a case for India as he discussed the opportunities for Russian companies due to the West’s sanctions policies, and the need for the Moscow to “offer support tools to help" its companies "market their products more efficiently", RT reported.

The Make in India initiative, which targets 25 sectors, including automobiles, textiles, pharmaceuticals, electronics, and renewable energy, was launched by the PM Modi led NDA government in 2014, and has emerged as a catalyst for placing the Indian economy on a path to become a global manufacturing powerhouse.