Russian President Vladimir Putin lauded the Indian government and its leadership while addressing the VTB Investment Forum in Moscow. He specially focused on Modi’s initiative of “Make in India”. Putin acknowledged India’s economic endeavors and praised the country’s government and leadership for their efforts to provide “stable conditions” for SMEs.
Additionally, Putin emphasized the importance of Russia’s import substitution program in light of the BRICS shift for the expansion of SMEs and the necessity of a quick dispute resolution forum for SMEs to interact comfortably in BRICS+ countries.
The India-first policy has created “stable conditions” in the country, and Russia is ready to place manufacturing sites in the country, the President said. He cited the success of regional Russian manufacturers in industries like consumer goods, IT, high-tech, and agriculture, as well as the rise of new Russian brands that are taking the place of Western names that have left the market.
He emphasised that both countries have a similar approach towards economic policy and working together will definitely lead to gain momentum with hi-tech technology. Talking about agriculture, he gave the statistics that Russia is now exporting grains to the tune of USD 66 billion, earlier it used to import it
