President Vladimir Putin stated Russia's readiness to set up manufacturing facilities in India and commended Prime Minister Narendra Modi's "India-first" policy and "Make in India" campaign.

President Putin made comparisons between India's 'Make in India' campaign and Russia's import substitution program while speaking at the 15th VTB Russia Calling Investment Forum in Moscow.
On Wednesday, the two-day forum got underway in Moscow.

"Prime Minister Modi's Make in India initiative is comparable. Additionally, we are prepared to establish our manufacturing facilities in India. With the goal of prioritizing India, the Indian government, led by the prime minister, has been establishing stable conditions. "We think it's profitable to invest in India," the Russian president stated.

He emphasized that the Russian oil tycoon Rosneft recently made a $20 billion investment in India.

He noted that India's standing in the global economy has been strengthened in large part by the 'Make in India' campaign, which aims to increase manufacturing and draw in foreign investment.


President Putin's comments highlighted India's economic development under PM Modi's direction. He praised Prime Minister Narendra Modi's economic initiatives, with a particular emphasis on the 'Make in India' program, and the Indian government's efforts to create "stable conditions" for SMEs.

President Putin also emphasized the importance of Russia's import substitution program in relation to the development of BRICS.