Investments in India profitable; Russian firms ready to set up manufacturing operations: Putin
The Hindu
Russian President Putin praises India's 'Make in India' initiative, highlighting profitable investments and potential for manufacturing facilities in India.
Russian President Vladimir Putin has hailed 'Make in India' initiative and the Prime Minister Narendra Modi-led Government's policies, saying companies are eager to set up manufacturing facilities in India as investments are profitable.
Speaking at the 15th Vneshtorgbank (VTB) Investment Forum in Moscow on Wednesday (December 4, 2024), Mr. Putin said that the initiative, which is aimed at boosting manufacturing and attracting foreign investment, has played a key role in strengthening India's position in the global economy.
The 'Make in India' initiative was launched on September 25, 2014, to facilitate investment, foster innovation, build World-class infrastructure, and make India a hub for manufacturing, design, and innovation.
Mr. Putin said that India has created stable conditions for small and medium-sized enterprises while expressing Russia's willingness to establish manufacturing operations in India, as investments in India are profitable.
"The Prime Minister of India, and the Government of India have been creating stable-conditions and this is because the Indian leadership has been pursuing India comes first policy and we believe that investments in India are profitable," the Russian President said.
"And we would be ready to place our manufacturing site in India. Also, the biggest investment in India in the economy to the tune of $20 billion by Rosneft happened not long ago," he added.
Rosneft is the biggest oil producer company in the Russian Federation.
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