This is how it made India a key destination for Russian investment: Piyush Goyal after Vladimir Putin praised PM Modi’s ‘India-first’ policy
Russian President Vladimir Putin praised Prime Minister Narendra Modi’s “India-first” and “Make in India” policies at the VTB Russia Calling Investment Forum in Moscow, expressing confidence that they will encourage Russian firms to set up manufacturing bases in India. He also mentioned Russia’s willingness to establish manufacturing operations in India.
The ‘Make in India’ campaign has played a major role in strengthening India’s position in the global economy, Putin said at the event.
Sharing a video clip of the event, Commerce and Industry Minister Piyush Goyal took to microblogging site X (formerly Twitter) to assert that this is the way to “make our country an important destination for Russian investments!”
Putin also expressed Russia’s willingness to establish manufacturing operations in India. Investment in India is profitable, the Russian leader said, stressing that Russia’s Rosneft has already invested $20 billion in India.
ANOTHER ISSUE: Vladimir Putin says that Russia is ready to establish manufacturing jobs in India, hailing the Make in India initiative
Praising India’s economic progress under the leadership of PM Modi, Putin praised the Indian government and its efforts to create “stable conditions” for SMEs. He also highlighted the economic initiatives led by Prime Minister Modi, which focuses on the ‘Make in India’ initiative.
The Russian President also drew parallels between Russia’s export program and PM Modi’s ‘Make in India’ initiative.
India’s leadership is focused on putting its national interests first, Putin said.
He also highlighted the importance of Russia’s foreign exchange program in the context of the BRICS development.
UPDATE: Donald Trump warns of 100% tariffs on BRICS countries
Putin also called for greater cooperation between BRICS countries to support the growth of SMEs, encouraging member countries to identify key areas of cooperation at the upcoming summit in Brazil next year.
“I urge our BRICS partners to assess the current situation in important areas of cooperation, and we will inform our Brazilian partners, who will be leading BRICS next year,” said the Russian President.
