By Admin 
President Vladimir Putin on Friday gave a statement from the St. Petersburg International Economic Forum (SPIEF) regarding the growing credibility of India and China in the world. He once again said that there have been fraternal relations between India and Russia since 1947. He said, ‘We know how talented and well educated the Indian people are. Indians have excellent capabilities, which have gained fame across the world, especially in coding and other fields.
Russia invested $25 billion in India: Putin
Putin said that Russia’s big oil company Rosneft has invested $25 billion in India’s economy, which has been used to build oil refineries, ports and gas stations (petrol pumps). The Indian economy is facing some challenges due to the conditions in the Middle East. In such a situation, Russia is supporting India like a helpful friend by increasing the supply of energy (oil and gas) and sharing its technology. Both the countries are working together so that good results can be achieved and this cooperation can become stronger in future.
India does not bow down to external pressure: Putin
Putin once again said that India is a country which never bows down to any external pressure. Regarding China, Putin said, ‘It also takes its sovereignty and its own decisions independently. Because of its strength, China does not come under any external control.
What did Putin say on Russia-China relations?
Putin said that there is an equal partnership between Russia and China in the energy and high-tech sector. The quantity of high-tech machines and equipment sent from Russia to China is continuously increasing. Russia is building a nuclear power plant in China. In this, 4 blocks are already working and 4 other blocks are currently being built on the basis of Russian technology. Both the countries share information, data and technology among themselves and will continue to do so in the future.
Putin’s advice to America
Putin has warned that rising oil prices could fuel global inflation. He said, ‘If oil prices remain high, it affects the entire economy. Due to this, there is a danger of inflation increasing in the big economies of the world, especially America. The US dollar is no longer based on gold (Gold Standard). Its strength and stability depend entirely on the confidence and stability of the American economy.
He said, ‘Low inflation is the most important condition to keep the economy stable. If oil becomes expensive and inflation increases, it could threaten the foundation of the American economy. To avoid these economic difficulties, it is very important to bring stability in the oil sector.
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