International

IIE Digital Desk: In a significant recognition of Prime Minister Narendra Modi's 'Make in India' initiative, the Russian President acknowledged its visible effect on the Indian economy. The initiative, aimed at promoting domestic manufacturing and attracting foreign investments, has been instrumental in driving economic growth and transformation in India.

The Russian President's acknowledgment underscores the positive impact of the 'Make in India' campaign, which has gained global attention since its inception. The initiative's core objective of boosting manufacturing, job creation, and enhancing India's position as a global manufacturing hub has yielded tangible results.

Under the 'Make in India' umbrella, various sectors such as automobiles, electronics, defense, and renewable energy have witnessed substantial growth and investment. The campaign has not only attracted foreign direct investment but has also fostered partnerships between Indian and international companies, bolstering the country's manufacturing capabilities.

By focusing on the development of a robust manufacturing ecosystem, 'Make in India' has facilitated the growth of small and medium-sized enterprises (SMEs) and provided an impetus to the 'vocal for local' movement. It has empowered Indian entrepreneurs and encouraged the production of indigenous goods, reducing the country's dependency on imports.

The recognition from the Russian President highlights the international recognition and appreciation for the transformative initiatives implemented by the Indian government. The 'Make in India' campaign continues to create employment opportunities, enhance technology transfer, and contribute to India's economic progress.

With the visible impact of 'Make in India' on the Indian economy, the initiative remains a cornerstone of India's economic policies, fostering innovation, entrepreneurship, and self-reliance. It serves as a catalyst for India's journey towards becoming a global manufacturing powerhouse, attracting investment, and propelling sustainable growth in diverse sectors.