Virendra Pandit
New Delhi: Praising Prime Minister Narendra Modi for his vision and policies, President Vladimir Putin on Thursday said Russia will now “Make in India” by starting manufacturing in the South Asian country.
“Prime Minister Modi has a program called Make in India. We are also ready to set up our manufacturing operations in India. The Indian government, under the Prime Minister’s leadership, has been creating stable conditions, driven by a policy of putting India First. We believe that investing in India is profitable,” he said at an event, adding that Russian company Rosneft has recently invested USD 20 billion in India.
Speaking at an investment summit in Moscow on Thursday, Putin said he was impressed by how PM Modi’s “Make in India” initiative was “strengthening India’s position globally,” the media reported.
He also acknowledged how New Delhi’s policies have contributed to India’s development by creating a stable environment for growth.
President Putin emphasized how India’s leadership has focused on “prioritizing its national interests” which has translated into the country’s robust growth and the well-being of its citizens. Citing the SMEs, he said India created “stable conditions” for the small and medium-sized enterprises.
In his speech at the 15th VTB Russia Calling Investment Forum, President Putin also highlighted the significance of the evolution of the BRICS and BRICS+ forums and the contribution of Russia’s import substitution program in that context.
He stressed for greater cooperation among BRICS nations to support the growth of SMEs and encouraged member countries to identify key areas for collaboration at the upcoming summit in Brazil next year. “I urge my BRICS colleagues to evaluate the current situation in key areas of cooperation,” he said.
Referring to the investment platform Russia is developing with partner countries in BRICS, President Putin said that it has the potential to benefit all partners and is expected to become an important instrument for supporting our economies and providing financial resources to the countries of the Global South and East.