Putin Praises the Strength of India's Economy Under PM Modi's Leadership
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Moscow, Dec 19 (NationPress) Russian President Vladimir Putin on Thursday expressed his recognition of India's expanding economic strength while underscoring his administration's ongoing efforts to ensure a stable and normal economic environment despite the prolonged conflict with Ukraine.
International financial and economic institutions have ranked Russia as the top economy in Europe based on economic volume, purchasing power parity, and fourth globally, following China, the United States, and India. Putin noted that Russia surpassed Germany last year and has now outpaced Japan this year. However, he emphasized, “This is not a reason for complacency.”
He pointed out that the Russian economy continues to progress despite external challenges and attempts to exert influence.
“Everything is evolving; everything is moving forward vigorously. If the Eurozone has stagnated, other global development centers are advancing as well. Changes are also occurring in the Eurozone and the United States. We must sustain our momentum and enhance the quality of our economy,” asserted Putin.
Earlier this month, the Russian President praised Prime Minister Modi's 'India-first' policy and the 'Make in India' initiative, expressing Russia's readiness to establish manufacturing facilities in India.
At the 15th VTB Russia Calling Investment Forum in Moscow, Putin compared Russia's import substitution program with India's 'Make in India' initiative.
“Prime Minister Modi has a similar program called 'Make in India'. We are also prepared to establish our manufacturing operations in India. Under the Prime Minister's guidance, the Indian government has been fostering stable conditions, driven by a policy of prioritizing India. We perceive investing in India as beneficial,” the Russian President stated.
In September, during a private meeting with National Security Advisor (NSA) Ajit Doval in Saint Petersburg, Putin praised India's elevated global position and the vigor of its economy under Prime Minister Modi's leadership.
“Our special privileged strategic partnership is gaining momentum and strength, which we wholeheartedly welcome. We are also pleased with India’s success in building and reinforcing its statehood and advancing the economy under the leadership of Prime Minister Modi,” Putin remarked during his discussion with NSA Doval.
