A large delegation from Russia, attending the two-day Bengal Global Business Summit, will explore opportunities for forming joint ventures with Indian IT companies for developing both hardware and software facilities in India, according to RUSSOFT, an influential association of software-developing companies in Russia. The sixth Bengal Global Business Summit (BGBS), a flagship event to showcase the investment potential of West Bengal, will commence on Wednesday.
Talking to FE, Valentin Makarov, president of RUSSOFT, said Russian IT companies can offer technologies related to smart city projects, block-chain and different applications of artificial intelligence. “We are interested to see what is happening in Bengal. We are interested to enter India’s IT market via Bengal. Russian companies can offer technologies related to smart city projects in Kolkata,” Makarov said.
As Russia faces harsh sanctions imposed by the West, the country is looking to increase its software and hardware exports to India and other BRICS nations.“We can form partnerships in every sphere of technology. Russian IT companies are interested in developing manufacturing facilities through joint ventures in India in both hardware and software. We can work jointly in areas like electronics in automotive control in cars, aviation, drone and helicopters, and project developments for smart cities,” Makarov said. “What we are looking for now in the present geopolitical situation is stronger cooperation between BRICS countries,” he added.
This year, the summit is expected to see the ‘biggest-ever’ UK delegation. The focus of the delegation will be on education, research, creative economy and sustainable tourism. Industry chambers FICCI and CII will partner the West Bengal government for this event. Delegates from over 35 countries are expected to attend. The government is expecting more investment proposals this year than that of in previous years, especially in the MSME sector. The last edition of the Bengal Global Business Summit held in Digha in 2019.
Former state finance minister Amit Mitra had earlier said investment proposals worth Rs 12.3 lakh crore were received between 2015 and 2019 in BGBS and majority of them were under implementation.