Skolkovo to help boost Indian IT investments in Russia

The Skolkovo Foundation, the strategic development institution of the Russian government, and the India government-sponsored Electronics and Computer Software Export Promotion Council (ESC) Thursday announced the setting up of an information technology cluster in Moscow, among other measures, to boost investments of Indian IT companies in Russia.

"Prominent among the measures announced were the setting up of an IT cluster in Moscow, with attractive tax sops, as well as a Soft Landing programme - a special initiative that opens the Russian market for foreign companies," Skolkovo said in a release here.

Chief executives of top Russian IT companies are currently here atending Indiasoft-2015 international conference on information technology, expressed their desire to increase investments in the country to proactively help accelerate the Digital India programme, the release added.

ESC signed an agreement with Skolkovo in December last, during the official visit to India of Russian President Vladimir Putin, to promote Indian IT companies in international markets.

The agreement provides for exchange of information to help set up joint venture startups looking to enter both Russian and Indian markets, promotion and networking for companies, as well as holding innovation-related events in both countries, to promote joint innovative project technologies, products and services in international markets.

As part of the agreement, ESC has invited 15 Skolkovo startups to take part in Indiasoft-2015.