now President Vladimir Putin has highlighted Russia's willingness to set up manufacturing operations in India now speaking of the Russia calling investment Forum the Russian president praised the Indian Prime Minister Narendra modi's policies listen in prime minister Mii has a similar program make in India and this is very similar uh program to ours and we would be ready to place our manufacturing sites in India also the the biggest investment in the Indian economy to the tune of 20 billion by Ross neft and this is because the Indian leadership has been pursuing uh India comes first policy
and we believe that uh investments in India are profitable the President Vladimir Putin Drew parallels between Russia's import substitution program and India's making India initiative he also expressed Russia's willingness to establish manufacturing operations in India Vladimir Putin said that investments in India are profitable he also emphasized that India's leadership has focused on prioritizing its national interests he also said that the Russian company Ros neft invested about $20 billion in India recently economic cooperation between the two Nations has expanded in recent years amidst Western sanctions against Moscow New Delhi has also ramped up purchase of discounted
Russian oil despite Western pressure taking bilateral trade to well beyond $65 billion last year as the world's third largest consumer of oil India relies on Imports for nearly 85% of its needs Russia has become India's top supplier and New Delhi often highlights moscow's role in ensuring energy security the officials have argued that India's purchase of Russian oil and coal have helped stabilize the global energy Market preventing a widespread energy crisis during their meeting in Moscow in July the Russian and the Indian leaders had set a bilateral trade Target of about $1 hundred billion for all
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