Putin Praises 'Make in India': A New Era for Indo-Russian Economic Ties

Russian President Vladimir Putin endorsed India's 'Make in India' initiative, highlighting its beneficial impact on India's global economic standing. He remarked on the profitability of investments and the creation of stable business conditions, suggesting a collaborative manufacturing effort with Russia to enhance bilateral trade and economic growth.

Russian President Vladimir Putin has lauded the 'Make in India' initiative, emphasizing its favorable effects on India's economic position globally. While addressing the 15th VTB Investment Forum in Moscow, Putin underscored how India's policies have created a lucrative environment for foreign investments.

Launched in 2014, the 'Make in India' initiative aims to foster investment, enhance innovation, and establish robust infrastructure, turning India into a hub for manufacturing and design. Putin expressed Russia's readiness to set up manufacturing sites in India, pointing to a recent USD 20 billion investment by Rosneft.

The president further noted the significance of cooperation among BRICS countries to boost SMEs and identified common areas for collaboration. Indo-Russian trade relations have significantly strengthened, with India's oil imports from Russia now constituting over 40% of its total due to current geopolitical dynamics.

(With inputs from agencies.)