PM Modi and Russian President Putin.
Moscow: Russian President Vladimir Putin has become convinced of PM Modi’s ‘Make in India’ initiative. He has praised Prime Minister Narendra Modi for such wonderful initiatives and policies that have created a stable situation in India. The President has also offered to set up Russian manufacturing units in India. Addressing the 15th VTB Investment Forum in Moscow on Wednesday, Putin said that under the import substitution program, new Russian brands have emerged in place of Western brands that have exited the Russian market. Even before this, the President of Russia had many times praised PM Modi’s work and his leadership.
Putin described Russia’s import substitution program as similar to India’s ‘Make in India’ initiative and said that India’s leadership is focused on the policy of giving priority to its interests. Putin said, “Prime Minister Modi also has a similar program ‘Make in India’. It is very similar to our program.” He said that the ‘Make in India’ initiative launched with the aim of promoting manufacturing and attracting foreign investment has played an important role in strengthening India’s position in the global economy. The Russian President said, “The Prime Minister of India and the Government of India are creating stable conditions.
Putin impressed by PM Modi’s country first policy
President Putin is extremely impressed by PM Modi’s country first policy. He said that the stable conditions in India today are because the Indian leadership is following the policy of putting India first and we believe that investment in India is profitable.” Putin offered to set up a Russian manufacturing unit in India. Said, “We are also ready to start our manufacturing operations in India. Rosneft has recently made its largest investment in India amounting to US$20 billion.”
Rosneft is the largest oil producing company in the Russian Federation. Along with this, Putin urged for greater cooperation among BRICS countries to support the development of small and medium enterprises (SMEs). The nine-member BRICS group also includes India, China, Russia and Brazil. He encouraged BRICS members to identify key areas for cooperation at the summit in Brazil next year. (Language)
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