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India-Russia’s US$50bn investment target by 2025

FICCI sees technology collaborations


FICCI sees technology collaborations


IT Forium.



India and Russia have set an ambitious task to achieve an investment target of US$50 billion by 2025 with a special focus on cooperation in the high-tech sector, and emerging technologies.

This was stated by the Federation of Indian Chambers of Commerce and Industry which led an Indian delegation in Russia to collaborate on ICT emerging technologies

The 11-member Indian delegation comprising Industry Members, Academia, Start-ups and ICT experts to Khanty-Mansiysk in Russia attended the two-day XI International IT Forum from 10 June 2019.

The aim of FICCI led delegation is to promote unique strengths in emerging technologies like AI, IoT, blockchain and big data analytics, and encourage collaboration with the Indian IT industry in the areas of IoT ecosystem, Industry 4.0 and Smart Cities.

Binaya Srikanta Pradhan, Deputy Chief of Mission, Embassy of India, Moscow, said that the government is using technology for reducing digital gap and for bringing the people out of poverty and inequality.

He cited the example of Direct Benefit Transfer in LPG subsidy which saved US$15 billion for the government.

Rajat Moona, Director, IIT and former Director General, CDAC, said: “ICT has not only connected people and systems across economies, but it also has delivered significant economic growth, created opportunities of jobs and created wealth across the globe.”

Parminder Kakria, Co-Chairman, FICCI ICT and Digital Economy Committee, sharing his views on “Making smart city cyber secure”, said: “Emerging technologies can play a huge role in the development of the information society and empowering its citizen.”

Key members of the delegation also deliberated on strategic sessions covering machine learning, internet of things and artificial intelligence, digital tools in the health sphere, electronic medical document flow and development of digital data economies with cooperation with BRICS and SCO countries.

With the objective to showcase the strength of Indian information technology, start-ups and electronics industry, several members of India delegation participated as exhibitors under the India Pavilion coordinated by FICCI at the forum.

The International IT forum brought together industry leaders from BRICS and SCO nations as well as other countries to strengthen digital interdependence and expand the use of emerging technologies and facilitate accelerated growth of digital economies.

As BRICS members and SCO nations strengthen their position as the fastest growing economies, it becomes imperative for these nations to harness the power of the internet and digital technologies as an instrument for growth and expansion, noted FICCI in a release on 11 June 2019.

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