Business
'Right Thing': Putin Commends PM Modi's 'Make In India' Drive, Urges Emulation In Russia
Russian President Vladimir Putin
Russian President Vladimir Putin has praised Prime Minister Narendra Modi for 'Make in India' programme that is boosting local manufacturing of automobiles, and said that Russia should "emulate" India.
Speaking at the 8th Eastern Economic Forum (EEF), Putin said that domestically made automobiles must be used and India has already set examples through its policies under Prime Minister Modi's leadership.
In response to a media query on Russian-made cars, Putin emphasized the importance of promoting and utilising domestically manufactured vehicles.
He highlighted India's success in this regard and acknowledged the efforts of PM Modi in promoting the Make in India initiative.
"You know, we did not have domestically made cars then, but we do now. It is true that they look more modest than Mercedes or Audi cars, which we bought in vast amounts in the 1990s, but this is not an issue. 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 programme. He is right," Putin said.
"We have [Russian-made] automobiles, and we must use them; this is absolutely fine. This will not lead to any infringements of our WTO obligations, absolutely not. It will concern state purchases. We must create a certain chain regarding what cars different classes of officials can drive, so that they will use domestically-made cars," he added.
"You probably know about the proposals to continue buying these cars. It would be easy to do, because the logistics are streamlined," he said.
Furthermore, the Russian President expressed his belief that the India-Middle East-Europe Economic Corridor (IMEC) poses no obstacles for Russia and, in fact, brings benefits to the country.
The creation of a new economic corridor was agreed upon by the United States, the European Union, Saudi Arabia, and India.
Following the G20 Summit in New Delhi, several countries including India, the US, UAE, Saudi Arabia, France, Germany, Italy, and the European Union signed a Memorandum of Understanding (MoU) to establish the India-Middle East-Europe Economic Corridor.
"I think it is for our good; it will help us develop logistics," Putin said on the IMEC.
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