Russian Investment in India: Russia plans to build manufacturing plants across India, as announced by President Vladimir Putin during an investment meeting in Moscow. He praised Prime Minister Narendra Modi’s “Make in India” program, calling it key to improving India’s global position.
President Putin highlighted that Russia is eager to support India’s “India-first” policies by starting manufacturing operations there. He emphasized that India offers a stable and profitable environment for investment under PM Modi’s leadership.
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Putin also pointed out Russia’s $20 billion investment in India through Rosneft. He said India’s focus on supporting small and medium-sized businesses has helped the country grow and prioritize its economic goals.
Russia to ‘Make in India’
“Prime Minister Modi has a similar programme called Make in India. We are also 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,” said the Russian President. He further noted that Russian company Rosneft had recently invested $20 billion in India.
Rapid dispute resolution key for BRICS+ SMEs
President Putin highlighted Russia’s focus on its import substitution program as part of the BRICS group’s development. He explained how this program supports small and medium-sized businesses (SMEs) and called for a quick system to solve disputes, making it easier for SMEs to trade within BRICS+ countries.
According to Business standard, He also mentioned how new Russian brands are replacing Western brands that left the market. These local companies are succeeding in areas like consumer goods, IT, high-tech industries, and farming.
President Putin encouraged stronger teamwork among BRICS nations to help small and medium-sized businesses (SMEs) grow. He asked member countries to focus on key areas for working together before the next summit in Brazil.
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He also mentioned an investment platform Russia is creating with BRICS partners. This platform is designed to support the economies of the Global South and East by offering financial resources, benefiting all members involved.
“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.
