Putin: Russia to 'Make in India,' Praises Modi's Policies

Moscow, Russia: Russian President Vladimir Putin announced plans to establish manufacturing plants in India, calling it a “profitable” investment during the 15th VTB Russia Calling Investment Forum. Praising Prime Minister Narendra Modi’s leadership, Putin highlighted the success of the "Make in India" initiative and the Indian government’s focus on creating stable economic conditions.

“Under PM Modi, India has been prioritizing national interests and providing a favorable environment for growth. We are ready to set up manufacturing operations in India,” Putin said. He pointed to Russian energy giant Rosneft’s $20 billion investment in India as a testament to the bilateral cooperation.

Putin also compared India’s "Make in India" initiative with Russia’s import substitution program, emphasizing the shared focus on bolstering local manufacturing and reducing foreign dependency.

The Russian President highlighted India's efforts to support small and medium-sized enterprises (SMEs), noting their critical role in the economy. He also called for greater cooperation among BRICS nations to identify key collaboration areas ahead of the BRICS summit in Brazil next year.

This move marks a deepening of economic ties between the two nations, further strengthening India’s position as a global manufacturing hub.