Specific areas are being explored in which India's expertise in IT could be utilized in Russia, with potential being seen in oil and natural gas and education sectors of that country.
A major push in collaboration in IT and other areas is expected when Prime Minister Narendra Modi travels to Vladivostok in September to be the Chief Guest at the Eastern Economic Forum at the invitation of Russian President Vladimir Putin.
An Indian delegation, comprising representatives from the industry, academia, start-ups and ICT, recently undertook a visit to Khanty-Mansiysk in Russia to explore ways in which the collaboration could be effected through the use of IT.
The aim of the visit by the delegation was to promote unique strengths in emerging technologies like Artificial Intelligence, Internet of Things (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, said the business chamber FICCI, which organized the trip.
The delegation participated in a seminar and held an exhibition, showcasing India's strength in information technology, start-ups and electronics industry.
As a follow-up, some focus groups will be set up for effective action, according to a source.
The potential areas where Indian companies can use their IT applications in Russia are oil and natural gas sector.
The two countries have set an ambitious bilateral trade target of 30 billion dollars to be achieved by 2025, with special focus on collaboration in high tech sector and emerging technologies. The bilateral trade last year was 9 billion dollars.
"Emerging technologies can play a huge role in the development of the information society and empowering its citizens," said Parminder Kakria, co-Chairman of FICCI ICT and Digital Economy Committee.
( With inputs from IANS )