Russian President Vladimir Putin expressed strong support for India’s development under Prime Minister Narendra Modi’s leadership, announcing that Russia is ready to set up manufacturing plants across India as part of its commitment to the ‘Make in India’ initiative.
In his remarks at an investment summit in Moscow, Putin praised PM Modi for creating a stable environment for business growth, driven by the “India First” policies. “We believe that investing in India is profitable,” Putin said, highlighting how the Indian government’s efforts to prioritize national interests have fostered economic growth and stability. He specifically noted the success of India’s ‘Make in India’ program, which he believes has strengthened India’s position on the global stage.
Putin emphasized that Russia’s readiness to set up manufacturing operations in India aligns with the country’s growth strategy. “We are also ready to set up our manufacturing operations in India,” he stated, referencing how the Indian government’s policies have been instrumental in building a conducive environment for investment. The Russian leader also pointed to Rosneft, a Russian oil company, which recently invested $20 billion in India, underscoring the increasing economic ties between the two nations.
In his speech, Putin also acknowledged how India’s leadership has focused on creating conditions that benefit small and medium-sized enterprises (SMEs), which he believes is crucial for India’s sustained economic development.
Furthermore, President Putin touched on the evolution of the BRICS and BRICS+ forums, stressing the importance of greater cooperation among member nations. He urged BRICS countries to collaborate more closely to support the growth of SMEs and explore new areas for cooperation. He also highlighted Russia’s import substitution program as an important factor in strengthening the BRICS framework.
Looking ahead, Putin called for increased collaboration within BRICS, encouraging member countries to work together at the upcoming summit in Brazil. He also pointed to the investment platform that Russia is developing with BRICS partners, which he believes could become an essential tool for supporting the economies of the Global South and East.
With these announcements, President Putin reinforced the growing economic and political relationship between Russia and India, a partnership that continues to evolve under the leadership of Prime Minister Modi and his vision for India’s future growth.
Sources By Agencies