Russian President Vladimir Putin recently praised India's 'Make in India' initiative, highlighting its crucial role in strengthening the country’s small and medium-sized enterprises (SMEs). Speaking at an international forum, Putin acknowledged that the 'Make in India' campaign has played a significant role in promoting local manufacturing, creating jobs, and driving innovation in the country.
The initiative, launched by Prime Minister Narendra Modi in 2014, aims to encourage both domestic and foreign companies to manufacture products in India, thereby boosting the nation’s industrial sector. Putin noted that this move has opened new avenues for collaboration between India and Russia, particularly in sectors like technology, manufacturing, and defense.
Putin also emphasized the importance of promoting SMEs as they form the backbone of any economy, especially in emerging markets. He highlighted that India's growing focus on entrepreneurship and self-reliance through the 'Make in India' program is a model for other nations looking to develop their industrial capacities.
The Russian President's comments come at a time when India is pushing for greater foreign investment and manufacturing diversification as part of its broader economic reforms. Putin’s praise underscores the international recognition that India's efforts to transform its manufacturing sector are gaining on the global stage. This collaboration between India and Russia in the business and manufacturing sectors is expected to strengthen bilateral relations and open up new business opportunities for both countries.
