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Russian President Vladimir Putin said his country is ready to set up manufacturing operations in India while lauding PM Modi’s ‘Make In India’.
Russian President Vladimir Putin said Prime Minister Narendra Modi’s Make In India has led to stable growth. (IMAGE: REUTERS FILE)
Russian President Vladimir Putin said Russia believes that investing in India is profitable and said Moscow is ready to set up manufacturing operations in India at the 15th VTB Russia Calling Investment Forum in Moscow.
“We are also ready to set up our manufacturing operations in India … We believe that investing in India is profitable,” Putin said
The statement comes as both nations continue to draw closer to each other. New Delhi and Moscow are old friends from the days of the former Soviet Union and have strong diplomatic and defence ties.
Earlier this week, Indian Foreign Minister Subrahmanyam Jaishankar said that India needed better access to the Russian economy.
“We are pressing the Russian leadership very strongly saying look, we are buying so many things … we also need better access … I think we will make progress,” he said at a conference.
Putin is due to visit India early next year – his first trip to the country since the war in Ukraine began – with the Kremlin saying on Monday that preparations were underway for the trip.
A report by Reuters quoting the government quoting Putin said Rosneft invested $20 billion in India recently. It further added that Putin in January said that Rosneft planned to expand its presence in India.
The Russian President also lauded PM Modi’s Make In India policy. “PM Modi has a program called Make in India. We are also ready to set up our manufacturing operations in India. The Indian government, under the Prime Minister’s leadership, has been creating stable conditions, driven by a policy of putting India first,” he said.
