Russian President Vladimir Putin has come out in support of Indian Prime Minister Narendra Modi's "Make in India" program, a move which could be used to help tighten economic relations between the two countries. This has come at a time when the United States, led by President Donald Trump, had imposed tariffs on Indian products, leading India to turn to alternative partners in terms of trade.
Putin's support for the "Make in India" program is being viewed as a strategic initiative to increase Russian investment in India. The program, initiated by Modi in 2014, has been designed to make India a manufacturing hub and attract foreign investment. With Putin's endorsement, Russian businesses will be more willing to invest in India, paving the way for a dramatic growth in bilateral trade.
The timing of the endorsement by Putin is significant in light of India-US trade tensions. Trump has imposed tariffs on Indian exports, which have contributed to a dip in Indian exports to the US. In response, India has been proactively trying to diversify its trade ties and encourage investment from other nations.
Putin's endorsement of the "Make in India" program is also a sign of the increasing strategic partnership between Russia and India. The two countries have been consolidating their relations over the past few years, and cooperation has been seen in defense, energy, and space exploration.
In all, Putin's support for the "Make in India" program is a major development that may have significant consequences for India's economy and its relations with other countries. As India continues to find its way through the intricacies of international trade, it is likely to appreciate Putin's backing and seek possibilities for greater cooperation with Russia.