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NRIPage | Articles | Putin Praises Modi's Make in India at Russia Forum | Get Cars & Automotive News. Drive into the Future of Innovation around the world - NRI Page
During the 15th VTB Russia Calling Investment Forum, President Vladimir Putin praised India’s economic progress under Prime Minister Narendra Modi’s leadership, particularly the "Make in India" initiative. Putin emphasized how this initiative has helped strengthen India’s manufacturing sector and attracted foreign investments, which have significantly contributed to India’s growing global economic position. He drew parallels between India's Make in India program and Russia’s own import substitution program, expressing Russia’s willingness to set up manufacturing operations in India, citing recent investments such as Rosneft's $20 billion investment in the country.
Putin also underlined the efforts of the Modi government in creating stable conditions for small and medium-sized enterprises (SMEs), encouraging them to thrive. Furthermore, he discussed Russia’s own economic achievements, particularly the success of local Russian manufacturers in industries such as IT, consumer goods, agriculture, and high-tech, following the exit of Western brands from the Russian market. President Putin urged BRICS nations to work together more effectively, especially to support the growth of SMEs and foster economic cooperation.
Looking ahead to the upcoming BRICS summit in Brazil, Putin emphasized the need for deeper collaboration among BRICS nations, proposing a new investment platform to provide financial support to countries in the Global South and East, ensuring the economic well-being of partner countries.
