Putin Praises PM Modi, Commits to ‘Make in India’ Initiative
Russian President Vladimir Putin lauded Prime Minister Narendra Modi’s leadership and policies, particularly the ‘Make in India’ initiative, during his address at the 15th VTB Russia Calling Investment Forum in Moscow.
Putin announced plans for Russia to establish manufacturing plants across India, aligning with New Delhi’s push for self-reliance and global economic standing.
Putin Lauds Modi’s Vision for India
Expressing admiration for Modi’s “India-first” policies, Putin highlighted how these initiatives have fostered a stable economic environment conducive to growth. “Prime Minister Modi has a program called Make in India. We are also ready to set up our manufacturing operations in India,” Putin said. He noted that the policy has strengthened India’s global position and created opportunities for investments.
He also praised India’s efforts to prioritise national interests, which he said have translated into robust economic growth and better conditions for citizens, particularly for small and medium-sized enterprises (SMEs).
Russia’s Investment in India
Putin revealed that Russian energy giant Rosneft has recently invested $20 billion in India, further solidifying the economic partnership between the two nations. He emphasized that such investments demonstrate Russia’s confidence in India as a profitable and stable destination for businesses.
Strengthening BRICS Cooperation
During his speech, Putin also underscored the importance of the BRICS and BRICS+ forums, calling for enhanced cooperation among member nations. He encouraged BRICS countries to identify key areas for collaboration, particularly in supporting SMEs, and proposed a greater role for the bloc in facilitating economic growth in the Global South and East.
Putin highlighted an investment platform Russia is developing with BRICS partners, which he said would serve as a vital tool for economic support and resource allocation among member nations. He urged for concrete discussions on these initiatives at the upcoming BRICS summit in Brazil next year.
Expanding Russia-India Ties
Russia’s decision to establish manufacturing operations in India reflects a deepening of bilateral relations between the two nations. With Putin’s endorsement of Modi’s policies, the partnership is poised to advance shared economic goals, further strengthening India’s position on the global stage while opening new avenues for Russian businesses under the ‘Make in India’ banner.
