Moscow: Russian President Vladimir Putin has been reassured by PM Modi’s ‘Make in India’ initiative. He praised Prime Minister Narendra Modi for such wonderful initiatives and policies which have brought stability to India. The President has also offered to set up a Russian manufacturing unit 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 to replace Western brands that have exited the Russian market. Even before this, the President of Russia had praised PM Modi’s work and his leadership many times.
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 a policy of prioritizing its interests. “Prime Minister Modi also has one such program ‘Make in India’. It is similar to our program,” Putin said. He said that the ‘Make in India’ initiative launched with the objective 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 very impressed with PM Modi’s country first policy. He said that the stable situation in India today is because the Indian leadership is following the policy of putting India first and we believe that investing in India is profitable.” Putin offered to set up a Russian manufacturing unit in India. Said, “We are in India. Also ready to start our manufacturing operations. Rosneft recently made the largest investment in India at US$20 billion.”
Rosneft is the largest oil producer in the Russian Federation. Along with this, Putin called for greater cooperation among the BRICS countries to support the development of small and medium enterprises (SMEs). The BRICS group of nine members also includes India, China, Russia and Brazil. He encouraged BRICS members to identify key areas for cooperation at next year’s summit in Brazil. (language)
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