Prime Minister Narendra Modi has received high appreciation from Russian President Vladimir Putin, who has also stated that Modi will not be coerced into making decisions that go against India's interests.
He also mentioned Prime Minister Modi's firm posture and position in protecting national interests during his speech at the 14th VTB Investment Forum Russia Calling.
It seems inconceivable to me that Modi could be coerced into doing anything that would be detrimental to India's and the Indian people's national interests. I am aware of the immense strain that exists. Just so you know, we never even broach the subject. The Russian President's Office quoted him as saying at the Forum, "I just look at what is happening from the outside, and sometimes, to be honest, I'm even surprised at his tough position on defending the national interests of the Indian state." So said he.
Putin stated that the nations' relations have been "developing progressively" in all aspects, highlighting the bilateral connections between the two countries.
In his remarks at the forum, Putin reiterated his belief that the "policy" of Prime Minister Modi is the main "guarantor" of relations between Russia and India.
“I would like to say that relations between Russia and India are developing progressively in all directions,” Putin said when asked about ways the two countries could speed up the expansion of bilateral trade. He credited Prime Minister Mr. Modi's policies for this progress. I avoided using specific names because he is part of that group of prominent world politicians.
He went on to say, "Last year it was 35 billion dollars per year, and it was already 33.5 billion this year" when asked about the amount of money passed between the two nations in commerce. In other words, there will be a marked increase. Indeed, it is common knowledge that Russia's energy resource discounts give India significant preferential treatment. It seems like he's making the correct choice.
Given the current trajectory of events, I, too, would act similarly if I were in their shoes. To their credit, they do well financially. However, this is obviously insufficient. There are a lot more opportunities for us. India is ranked third and Russia is ranked fifth in the world's economies according to purchasing power parity and economic volume, he noted.
Here are some countries to keep in mind: China, USA, India, Japan, and Russia. On a purchasing power parity basis, these three economies dominate the global market. Additionally, the Russian president made the observation that it would be appropriate to enhance trade with India if Russia's trade turnover with China this year approaches 200 billion.
Putin reportedly mentioned the North-South Corridor and India's interest in implementing such routes during his meeting with Iranian President Ebrahim Raisi, as reported by the Russian President's Office.
Putin reaffirmed the importance of building the Northern Sea Route, calling it a "very promising direction in the field of logistics."
The necessity to improve the financial system and increase the usage of national currencies in bilateral settlements was also emphasized by the Russian president. Investments and investment movements should be given more attention, he said.
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