Putin Applauds India's Pro-Business Policies, Advocates Stronger BRICS Partnership

Russian President Vladimir Putin praised India's business-friendly environment, drawing parallels between the 'Make in India' initiative and Russia's import substitution program. Addressing the VTB Investment Forum, he emphasized the success of Russia's local manufacturers and addressed the need for enhanced BRICS cooperation to bolster SMEs.

At the VTB Investment Forum in Moscow, Russian President Vladimir Putin extended commendations to the Indian government for its pro-business policies, spotlighting the 'Make in India' initiative spearheaded by Prime Minister Narendra Modi. Putin linked India's economic efforts to Russia's import substitution program and expressed eagerness to establish manufacturing in India.

The Russian President emphasized India's strategic approach in prioritizing national interests, underlining it as pivotal in shaping a stable business environment. He stressed the similarities with Russia's economic strategies, inviting greater collaboration in manufacturing as part of a profitable investment narrative for Russian enterprises in India.

Further, Putin drew attention to the flourishing scene of local Russian manufacturers stepping up in markets vacated by Western brands. Citing successes in sectors such as agriculture, consumer goods, and high-tech industries, he highlighted Russia's self-reliance and GDP impact, while calling for robust BRICS collaboration to expedite SME growth.

(With inputs from agencies.)