St Petersburg [Russia], June 22 (ANI): Union Minister Ashwini Vaishnaw said many Russian companies are considering India as a base for creating their IT teams and that both countries can collaborate and lean in on each others' areas of expertise, TASS reported.

'A lot of Russian companies are now looking at India as a base for setting up IT teams. For example, Sberbank. They are setting up a base in Bengaluru. So a lot of opportunities are there for collaborating,' the Union Minister for Railways, Communications, Electronics and Information Technology told TASS in an interview on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

The minister added that there are many areas for mutually beneficial cooperation between the two countries in the IT sector, the Russian state media reported.

'There are multiple areas for collaboration in IT. Of course, cybersecurity is one area where Russia has a lot of strengths. We can learn from each other. India has strengths in AI, IT systems management, and IT system programming. So both countries can really collaborate and learn from each other and to achieve a win-win solution for both,' Vaishnaw emphasised.

The St. Petersburg International Economic Forum (SPIEF) was held on June 18-21 and the theme for the event this year was 'Shared Values: The Foundation of Growth in a Multipolar World.'

The program included the SME Forum, the Creative Industries Forum, the Day of the Future International Youth Economic Forum, the Drug Security Forum, and the Roscongress Urban Hub discussion platform.

The Roscongress Foundation which organized the St. Petersburg International Economic Forum. TASS was its information partner. (ANI)