Russia to become IT revolution leader: Deputy PM

Russian Deputy Prime Minister, Sergey Ivanov, has proclaimed that Russia may soon become a global leader of the IT revolution, as it develops new ways of competing with the rest of the world.

Mr Ivanov has admitted that the country is currently playing catch up compared to the West but the situation may radically change in the future.

Traditionally, hardware sales have made up the bulk of the industry's profit, but now Russian companies are also offering sophisticated IT services that can compete on a world level.

Western organisations are increasingly looking to outsource software design and Russian businesses have been snapping up new contracts.

The country's outsourcing industry was worth $US 1 BLN last year and, although average prices may be slightly higher than the cheapest markets, demand is growing strongly.

“Russian engineers are able to provide the most complex soft-ware solutions for different clients in the U.S. and Europe. And the level of clients' satisfaction is very high,” said Pavel Kovalev, Director of Engineering AURIGA.