PIONEER NEWS SERVICE
The Russian President Vladimir Putin praised Prime Minister Narendra Modi’s ‘India First’ policy and ‘Make in India’ initiative at the 15th VTB Russia Calling Investment Forum. He appreciated India’s efforts to promote a stable environment for growth and emphasised how these policies have contributed to India’s development.
He stressed that the ‘Make in India’ initiative aimed at boosting manufacturing and attracting foreign investment has played a key role in strengthening India’s position in the global economy. He lauded the efforts made by the Indian government for ‘stable conditions’ for small and medium-sized enterprises (SMEs).
President Putin expressed Russia’s willingness to set up manufacturing plants in India, drawing parallels between Russia’s import reduction programme and India’s ‘Make in India’ initiative, adding that investing in India is profitable. He also mentioned that the Russian company Rosneft has recently invested $20 billion in India.
