13th September 2023, Mumbai: Russian President Vladimir Putin has lauded Prime Minister Narendra Modi’s ‘Make in India’ policy during his speech at the 8th Eastern Economic Forum in Vladivostok, Russia. Putin expressed support for Modi’s efforts to promote products made in India and encourage the use of domestically manufactured automobiles.
Russian-made cars
Putin acknowledged that while Russian-made cars may appear more modest compared to luxury brands like Mercedes or Audi, it is essential to prioritize the use of domestically produced vehicles. He cited India as an example, stating that the country focuses on the production and utilization of cars and vessels manufactured within its borders.
World Trade Organization (WTO) Role
He commended Prime Minister Modi for his promotion of the “Made In India” brand, emphasizing that Russia also has domestically manufactured vehicles that should be utilized. Putin emphasized that using Russian-made cars would not violate any World Trade Organization (WTO) obligations and proposed establishing guidelines for state purchases of domestically manufactured automobiles.
India-Middle East-Europe Economic Corridor (IMEC)
Additionally, Putin discussed the India-Middle East-Europe Economic Corridor (IMEC), noting that Russia did not perceive any hindrance from the project. He pointed out that the United States had joined the initiative alongside the European Union, Saudi Arabia, and India. While acknowledging the U.S. involvement, Putin suggested that the project would mainly benefit Russia by enhancing logistics and complementing the existing North-South project.
Vladimir Putin’s remarks reflect his support for Prime Minister Modi’s ‘Make in India’ policy and the utilization of domestically manufactured products, particularly automobiles. He also discussed the potential benefits of the India-Middle East-Europe Economic Corridor for Russia’s economic interests and logistics development.
By Yashika Desai