'Investing In India Profitable': Putin Hails PM Modi's 'Make In India' Initiative At Investment Forum

Russian President Vladimir Putin praised Prime Minister Narendra Modi's "India-first" policy and the "Make in India" initiative.

Speaking at the 15th VTB Russia Calling Investment Forum, Putin said that drew parallels between Russia's import substitution program and India's "Make in India" initiative, expressing Russia's willingness to establish manufacturing operations in India.

Investments in India are profitable, he added.

He also emphasised that India's leadership has focused on prioritising its national interests.

"Prime Minister Modi has a similar 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," the Russian President said.

He also said that Russian company Rosneft invested $20 bn in the country recently.

President Putin also urged for greater cooperation among BRICS nations, which include India and Russia, to support the growth of small and medium enterprises (SMEs) and encouraged member countries to identify key areas for collaboration at the upcoming summit in Brazil next year.

Referring to the investment platform Russia is developing with BRICS, President Putin said that it has the potential to benefit all partner countries 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.

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