In a recent speech, Russian President Vladimir Putin commended Prime Minister Narendra Modi’s leadership of India, pointing specifically to the “Make in India” campaign as a key factor in establishing “stable conditions” for SMEs. Putin highlighted the similarities between India’s manufacturing strategy and Russia’s import substitution program while speaking at the 15th VTB Russia Calling Investment Forum in Moscow. This demonstrated Russia’s willingness to invest and set up manufacturing enterprises in India.
According to Putin, the Indian government’s initiatives have created a favorable economic environment that is lucrative for international investors. “Prime Minister Modi has a program called Make in India that is similar,” he said. We are also prepared to establish our manufacturing facility in India,” highlighting the initiative’s contribution to luring in foreign investors. He added that the recent $20 billion investment in India by the Russian oil tycoon Rosneft demonstrated the close economic links between the two countries.
