Putin Praises Modi's 'Make in India' as Economic Game Changer

Russian President Vladimir Putin praised Prime Minister Narendra Modi's 'India-First' policy and 'Make in India' initiative at the Russia Calling Investment Forum, highlighting their role in boosting India's global economic position and attracting foreign investment. Putin emphasized stable conditions for SMEs and potential Russian manufacturing collaborations in India.

At the 15th VTB Russia Calling Investment Forum, Russian President Vladimir Putin hailed Prime Minister Narendra Modi's 'India-First' policy and 'Make in India' initiative as transformative drivers of India's economic ascent and international stature. According to the Ministry of Commerce and Industry, this initiative has bolstered India's role in the global economy.

Putin praised the Indian government's creation of stable conditions for SMEs, with particular attention to PM Modi's economic strategies. He compared Russia's import substitution program with India's 'Make in India' drive, expressing willingness to establish Russian manufacturing in India, noting the profitability of such investments.

Drawn to the success of local Russian brands replacing Western ones, Putin called for enhanced BRICS cooperation to support SME growth and urged focus on strategic collaboration areas at the upcoming summit in Brazil. He highlighted the potential of Russia's BRICS investment platform as a crucial economic resource for the Global South and East.

(With inputs from agencies.)