Russian President Vladimir Putin lauds PM Modi’s “India-First” policy and “Make in India” initiative at VTB Russia Calling Investment Forum in Moscow
President Putin highlights Russia’s desire to set up manufacturing plants in India
President Putin stressed the need for Russia-India cooperation for the growth of SMEs
President Putin sees the BRICS investment platform as important to support the world’s southern economies.
President Vladimir Putin at the 15th VTB Russia Calling Investment Forum lauded the Prime Minister, Shri Narendra Modi’s “India-First” policy and “Make in India” initiative. President Putin acknowledged India’s efforts to create a stable environment for growth and stressed on how these policies have contributed to India’s development.
The ‘Make in India’ initiative, which is aimed at boosting manufacturing and attracting foreign investment, has played a key role in strengthening India’s position in the global economy. President Putin’s remarks highlighted India’s economic progress under the leadership of PRIME Minister Modi. He appreciated the Government of India and its efforts in creating stable conditions for small and medium scale enterprises (SMEs) and highlighted the economic initiatives led by Prime Minister Narendra Modi with a special focus on the ‘Make in India’ programme.
President Putin is among Russia’s import substitution programme and India’s “Make in India.
President Putin expressed Russia's desire to set up manufacturing operations in India,
President Putin expressed Russia’s desire to set up manufacturing operations in India, expressing similarities between Russia’s import substitution programme and India’s ‘Make in India’ initiative. He said investment in India is profitable. He emphasised that India’s leadership has emphasised the importance of prioritising its national interest.
PM Modi has a similar programme called Make in India. We are also ready to start our manufacturing operations in India. The Government of India under the leadership of the Prime Minister is creating stable conditions driven by the policy of prioritising India. “We believe investment in India is profitable,” the Russian president said. He added that recently Russian company Rosneft has invested $20 billion in the country.
President Putin highlighted the importance of Russia’s import substitution programme in the context of the development of BRICS, emphasizing the growth of SMEs and the need for a faster dispute resolution mechanism. see more
Referring to the success of local Russian manufacturers in sectors such as consumer goods,
Referring to the success of local Russian manufacturers in sectors such as consumer goods, IT, hi-tech and agriculture, he mentioned the rise of new Russian brands that accommodate Western brands that have exited the market.
“For us, this is particularly important as part of our import substitution programme. The emergence of new Russian brands is helping to replace Western companies who have voluntarily left our market. Not only in consumer goods, but also in the IT and hi-tech industries, our local producers have achieved remarkable success.
President Putin urged for greater cooperation among BRICS countries to support the growth of SMEs and encouraged member states to identify key areas of cooperation at next year’s summit in Brazil. Referring to the investment platform that Russia is developing with BRICS, President Putin said it has the potential to benefit all partner countries and will become an important tool for support. read more
