Putin Once Again Hails Strength Of India’s Growing Economy Under PM Modi

Russian President Vladimir Putin on Thursday praised India’s economic growth while emphasizing his government’s efforts to maintain stability in Russia despite the prolonged conflict with Ukraine.

Speaking at his annual press conference in Moscow, Putin acknowledged India’s rising global stature and economic strength. He cited international financial institutions that rank Russia as the largest economy in Europe by purchasing power parity and fourth globally, after China, the US, and India.

“We overtook Germany last year and Japan this year,” Putin said. “But this is no reason to become complacent. We must keep the momentum and improve the quality of our economy.”

Russia’s Economy Adapts Amid Challenges

Putin highlighted the resilience of the Russian economy amid external pressures. He stated that Russia continues to grow despite threats and attempts to undermine it.

“Everything is developing and actively moving forward,” he said. “If the Eurozone has stagnated, other global centers are progressing. We must ensure Russia stays on this path of growth.”

Russia Supports India’s Economic Initiatives

Putin also reiterated Russia’s support for India’s economic policies. Earlier this month, at the 15th VTB Russia Calling Investment Forum, he praised Prime Minister Narendra Modi’s ‘India-first’ policy and the ‘Make in India’ initiative.

“Russia is ready to establish manufacturing operations in India,” Putin said. “The Indian government has created stable conditions under Prime Minister Modi’s leadership, making investments profitable.”

In September, during a meeting with India’s National Security Advisor Ajit Doval, Putin acknowledged India’s growing global influence and economic strength under Modi’s leadership. He described the India-Russia partnership as “gaining strength,” reflecting their mutual commitment to growth and development.

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