Putin Praises Modi’s ‘Make in India’ and ‘India-First’ Policy at Moscow Forum

Russian President Vladimir Putin lauded Prime Minister Narendra Modi’s ‘India-first’ policy and the ‘Make in India’ initiative, highlighting Russia’s interest in establishing manufacturing operations in India.

Speaking at the 15th VTB Russia Calling Investment Forum in Moscow, Putin highlighted similarities between Russia’s import substitution programme and India’s manufacturing push.

The forum, which began on Wednesday, provided a platform for discussing economic collaboration. Putin stated that India, under PM Modi’s leadership, has created a stable investment environment, making it profitable for Russian enterprises. He noted significant progress, citing Rosneft’s $20 billion investment in India as a recent example.

Putin also pointed out the emergence of new Russian brands replacing Western ones and stressed the role of BRICS in fostering SME growth. He called for enhanced cooperation among BRICS nations and underscored the importance of a dispute resolution mechanism to streamline business operations.

The Russian President urged BRICS nations to focus on key areas of collaboration, with Brazil set to lead the bloc next year. He highlighted Russia’s ongoing efforts to create a BRICS investment platform to support the economies of member states and strengthen ties with the Global South and East.