Putin eyeing India as factory hub

Russia is prepared to set up manufacturing plants across India, Russian President Vladimir Putin has said, praising Prime Minister Narendra Modi for his "India-first" policies at an investment summit in Moscow on Thursday.

Speaking at the 15th VTB Investment Forum, Putin said he was impressed by how PM Modi's 'Make in India' initiative was "strengthening India's position globally" and acknowledged how New Delhi's policies have contributed to India's development by creating a stable environment for growth.

"PM Modi has a program called Make in India. We are also ready to set up our manufacturing operations in India. The Indian govt, under the Prime Minister's leadership, has been creating stable conditions, driven by a policy of putting India first. We believe that investing in India is profitable."