Russia To Tap Indian Mfg Potential: Putin

We are also ready to set up our manufacturing operations in India. Russian company Rosneft has invested $20 bn in India recently. There’s need for greater cooperation among BRICS nations to support the growth of SMEs -- Vladimir Putin, President, Russia

New Delhi: Russian President Vladimir Putin has hailed ‘Make in India’ initiative and the Prime Minister Narendra Modi-led government’s stable policies, saying this would encourage Russian companies to set up manufacturing bases here.

The ‘Make in India’ initiative, aimed at boosting manufacturing and attracting foreign investment, has played a key role in strengthening India’s position in the global economy, Putin has said at a Russia’s investment forum in Moscow. He said that India has created stable conditions for small and medium-sized enterprises. Putin has expressed Russia’s willingness to establish manufacturing operations in India as investments in India are profitable.

“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,” he has said.