RUSSOFT's business mission to India: cooperation in the field of ICT under sanctions

25 April 2022

On 19-23th April, 2022, the RUSSOFT Association organized a joint business mission consisting of 6 RUSSOFT member companies and the Electronics Developers and Manufacturers Association (EDMA) to India to participate in the Global Business Summit in Kolkata and to meet with companies of the BRICS Chamber of Commerce in Delhi.

The delegation of the Russian business community to the Bengal Global Business Summit this year became the largest in its volume. In addition to participating in the Summit program and at the RUSSOFT and EDMA stand within the exhibition accompanying the Summit, a presentation of the companies of the delegation members was organized at the West Bengal Chamber of Commerce and Industry, and separate meetings were held with a number of interested Indian companies.

In Delhi, a Russian-Indian seminar was organized for the members of the RUSSOFT and EDMA delegation by the BRICS Chamber of Commerce to establish partnerships between Russian and Indian companies with the participation of the Deputy Trade Representative of the Russian Federation in India, during which speeches were heard by participating companies from both countries, as well as numerous B2B meetings for business were held.

The participants of the business mission included RUSSOFT companies: Bee Pitron, Geoscan, IBIK, ICL Group, PROMT, StarLine.

The business meetings of the RUSSOFT delegation with Indian companies were held with the assistance of the Bengal Chamber of Commerce of West Bengal, the official partner of RUSSOFT in India – Akis Tech company – and the Trade Representative Office of the Russian Federation in India. During numerous meetings, it was noted that Russian IT companies can help Indian partners with the introduction of technological innovations and the organization of joint production of ICT systems in India. There are many opportunities for the introduction of Russian applications in the field of AI, in particular, for optimizing traffic, optimizing and saving electricity consumption, and the operation of information systems in the field of healthcare.

Valentin Makarov, President of the RUSSOFT, on the results of the business mission:

“The business mission showed that India is interested in cooperation with Russia in the field of ICT. Despite political pressure from the United States and European countries, Indian business is ready for partnership – both to ensure the import of ICT to Russia and the export of ICT from Russia. Russian companies that are already operating in India have doubled the amount of contracts that they are either already executing or negotiating over this month. The Indian side is primarily interested in solutions in the field of information security, production and use of drones, modern solutions in the field of cyber-physical systems, solutions and technologies for telecom, logistics, and tourism.

The Indian side is ready to invest in the creation of joint ventures in India with Russian companies with the prospect of selling their products in India, Russia, Southeast Asia, the Middle East, and Africa.”

Alok Kumar, Head of Akis Tech, said about the Russian-Indian seminar in Delhi:

“India is making determined efforts to build a digital economy with more than 450 million Internet users, second after China, and occupies the largest market share in the global IT outsourcing market. According to experts, the size of India’s digital economy will amount to 1 trillion US dollars by 2022.

India is becoming a center for the development of “digital skills”. Every year, the country spends $1.6 billion on training in this area. This industry is the largest employer in the private sector, employing more than 3.9 million people. There are more than 17,000 firms in India’s IT industry. By the end of fiscal year 2022, the volume of the Indian software market amounted to $ 13.3 billion. In 2021, India accounted for more than a third of the global market for R&D service providers, which is estimated at almost 120 billion US dollars.

And I very much hope for cooperation with Russia in the field of information technology on the way to an exciting future full of opportunities.”

Participants of the business mission about the results of the trip:

Igor Nail, Commercial Director of IBIK:

“The business mission was useful for our company. We have already signed one dealership agreement with one partner from Calcutta. Another contract is under discussion. There are still about 20 candidates with whom negotiations have begun.”

Vadim Kokotkov, Deputy CEO of Bee Pitron:

“It is essential for all of us now not to lock ourselves in, but to conduct an active policy. It is necessary to travel, meet, check partners. This was an important mission. Even those who started doing business with America tried to find a balanced position and find ways to cooperate. There were surprisingly many meetings with private traders who wanted to work according to the business model. All are closed and require localization. Without an answer to the localization question, you can only work with unique products. I was asked: Are you serious about coming? Will you open with us, provide technical support to customers, develop sales, advertise, participate in exhibitions, and announce your marketing strategy?”

Evgeny Friedland, Head of Commercial service ICL Services (part of ICL Group):

“The business mission to India organized by RUSSOFT was useful in many aspects. Firstly, the Calcutta Summit itself is a large—scale event with a huge number of participants. Secondly, during the trip it turned out that the geopolitical factor does not particularly affect the attitude of Indian companies to representatives of Russian business, which generally favors further cooperation. Thirdly, thanks to the organizational assistance of the association, meetings were organized with one of the CCI in Calcutta and a large holding Kanoria Foundation. At the moment, we are continuing to communicate with Indian companies and are working out the details of a possible partnership. Fourth, communication with colleagues from Russia participating in the business mission turned out to be no less useful. In the future, ICL Group also plans to take part in such events.”

Indian media about the business mission:

The Economic Times: Russian IT cos eyeing Indian JVs post sanctions to expand footprint: Russoft chief

The Times of India: Russian IT firms eyeing Indian JVs post sanctions to expand footprint: Russoft chief

BusinessToday.In: Russian IT firms scouting Indian JVs post sanctions to expand footprint: Russoft chief

The Hindu: Russian IT firms eyeing Indian JVs post sanctions to expand footprint: Russoft chief

The Print: Russian IT cos eyeing Indian JVs post sanctions to expand footprint: Russoft chief

Moneycontrol.com: Russian IT firms eyeing Indian joint ventures: Russoft chief

Zee5: Russian IT cos eyeing Indian JVs post sanctions to expand footprint Russoft chief

The Telegraph Online: Russian delegates meet technology companies operating in Bengal

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