President Vladimir Putin has praised Prime Minister Narendra Modi’s ‘India-first’ policy and the ‘Make in India’ initiative, expressing Russia’s willingness to establish manufacturing operations in India.
At the 15th VTB Russia Calling Investment Forum in Moscow, Putin drew parallels between Russia’s import substitution programme and India’s ‘Make in India’ initiative. He emphasized that the Indian government has been creating stable conditions under Modi’s leadership, and that investing in India is profitable.
Putin also noted that Russian oil giant Rosneft has recently invested $20 billion in India. The ‘Make in India’ initiative has played a key role in strengthening India’s position in the global economy.
Putin also emphasized the significance of Russia’s import substitution programme in the context of BRICS’ evolution, focusing on the growth of SMEs and the need for a rapid dispute resolution mechanism to facilitate smooth business transactions for SMEs in BRICS countries.
“I urge my BRICS colleagues to evaluate the current situation in key areas of cooperation, and we will certainly bring this to the attention of our Brazilian counterparts, who will be leading BRICS next year,” Putin added.
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Source: NDTV
