Russian President Vladimir Putin hailed India's Initiative "Make In India" at the plenary session of the Eastern Economic Forum on Monday when suggesting Russian officials should use Russian cars for driving, instead of using foreign automobile brands.

"You know, cars were hard to come by, but there are now. Yes, maybe they look more unassuming than Mercedes or Audi, which were purchased in huge numbers back in the 90s. I think we need to follow the example of many of our partners in this sense. Like, for instance, our partners from India. They mainly focus on the production and use of vehicles made in India. I think [Indian] Prime Minister Modi is absolutely right to promote the ‘Make in India’ concept," the Russian president noted.

Putin also said that the Far East for Russia is a strategic priority for the entire 21st century.

"For everyone who believes in the Far East’s future, in its enormous opportunities and potential, and who contribute to its development, I would like to say a special word of thanks. And I repeat, the Far East is our strategic priority for the entire 21st century," Putin said at the plenary session on Tuesday.

Here are the key statements made by Vladimir Putin at the plenary session.

Russia's Trade With Countries of Asia-Pacific Grew by 13.7% in 2022

"Last year, Russia's trade with countries of the Asia-Pacific region increased by 13.7%, while growing by another 18.3% over the first half of this year," Putin said.

West Destroying System of Financial Relations, Global Economy Changing

"We know well, we see how the global economy has changed in recent years and continues to change, including due to the fact that some countries, primarily Western ones, with their own hands are destroying the system of financial, trade, economic relations, which they themselves created in many ways," the Russian leader said at the plenary session.

Trust in West Being Undermined Due to Restriction of Payments in Dollars

"For example, restrictions on payments in dollars. Where does this lead? Because all countries are thinking about creating their own instruments, about creating new payment systems, they are thinking about whether it is worth keeping their savings in the United States or somewhere in Europe, whether it is worth investing their savings in the securities of these countries," Putin said, adding that "trust [in those who impose these restrictions] is being undermined."

Russia Should Be Self-Sufficient, But Not in Isolation

"Our country must be self-sufficient, including in the field of security and defense. But this does not mean isolation of the country. This means that we, in cooperation with our partners and friends, in integration with the vast majority of countries that represent the majority of the country’s population, will develop our own country and make it even stronger," the Russian leader said.

Ukrainian 'Counteroffensive' Has Achieved Nothing, Resulted in 71,000 Ukrainian Casualties

"Ukraine is conducting a so-called counteroffensive. But there are no results …failure, not [just a] failure... There are losses, huge losses. Since the beginning of the counteroffensive, the loss of personnel is 71,000 people," Putin noted.

On Russia's Lunar Mission Crash

“An appropriate analysis will be carried out and the work will continue. It’s a pity, of course, that the lunar landing did not take place, but this does not mean that we will end the development [of this program]. We will continue to work,” the Russian president said.

The EEF is a key international platform for creating and strengthening ties between the Russian and global investment communities, and a comprehensive expert assessment of the Russian Far East's economic potential.

Musk Distinguished Person, Talented Entrepreneur

"As for private business and Elon Musk. He is certainly an outstanding person. It must be admitted. I think this is recognized globally. He is an active, talented businessman. He is successful in a lot of things, including with the support of the US," the Russian leader noted.

We Should Take Example from India: President Putin