Putin lauds Modi’s ‘India First’ policy, says Russia will invest in India

President Putin also acknowledged India's focus on creating a stable environment for economic growth, particularly for small and medium-sized enterprises (SMEs), attributing this to the nation’s robust development and prioritisation of national interests.

President Vladimir Putin (File Photo)

Russia plans to establish manufacturing plants across India, President Vladimir Putin announced at an investment summit in Moscow on Thursday. He commended Prime Minister Narendra Modi’s “India-first” policies and the ‘Make in India’ initiative, which he described as instrumental in enhancing India’s global standing.

Lauding PM Modi’s leadership, President Putin remarked, “Prime Minister Modi has a programme called Make in India. We are 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. We believe that investing in India is profitable.” He mentioned a recent $20 billion investment by the Russian company Rosneft in India.

President Putin also acknowledged India’s focus on creating a stable environment for economic growth, particularly for small and medium-sized enterprises (SMEs), attributing this to the nation’s robust development and prioritisation of national interests.

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Speaking at the 15th VTB Russia Calling Investment Forum, he highlighted the growing relevance of BRICS and BRICS+ forums, linking their evolution to Russia’s import substitution programme. He encouraged BRICS nations to strengthen collaboration, especially in fostering SME growth, ahead of the next summit in Brazil.

“I urge my BRICS colleagues to evaluate the current situation in key areas of cooperation, and we will certainly bring this to the attention of our Brazilian counterparts, who will be leading BRICS next year,” he said.

Highlighting an investment platform being developed with BRICS partners, President Putin noted its potential to benefit all members, supporting economies in the Global South and East through enhanced financial resources.

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