Russian President Putin lauds PM Modi's 'Make in India' approach to boost domestic manufacturing | WATCH
Putin emphasized the importance of using domestically manufactured cars and cited India as a prime example of this strategy. He mentioned that while Russian-made automobiles may appear more modest compared to luxury brands like Mercedes or Audi, using them is a sound decision.
Russian President Vladimir Putin praised Indian Prime Minister Narendra Modi's policies during the 8th Eastern Economic Forum (EEF) in Vladivostok. He particularly commended Modi's promotion of the "Make in India" program and stated that India's focus on using domestically made vehicles is the right approach.
Putin emphasized the importance of using domestically manufactured cars and cited India as a prime example of this strategy. He mentioned that while Russian-made automobiles may appear more modest compared to luxury brands like Mercedes or Audi, using them is a sound decision. Putin stressed that India, under PM Modi's leadership, is doing the right thing by promoting the Make in India initiative.
He also highlighted that using Russian-made cars is entirely acceptable and does not violate any World Trade Organization (WTO) obligations. Putin suggested implementing a system in which various classes of officials would use domestically manufactured vehicles.
Furthermore, Putin expressed his support for the India-Middle East-Europe Economic Corridor (IMEC) and emphasized that he sees no obstacles to Russia's participation in the project. He noted that the IMEC would contribute to the development of logistics and logistics-related industries in Russia.
Despite the United States joining the project alongside the European Union, Saudi Arabia, and India, Putin believes that the IMEC benefits Russia. He viewed the additional movement of goods along this corridor as complementary to Russia's North-South project and saw no hindrance to Russian interests in the initiative.
The India-Middle East-Europe Economic Corridor was announced during the G20 Summit in New Delhi, with India, the United States, Saudi Arabia, and the European Union signing a Memorandum of Understanding (MoU) to establish this significant shipping and railway connectivity corridor.