IT sector's share in GDP has doubled over a five-year period, asserted Michael Mishustin.
**IT Sector Soars in Russia, Aiming for Self-Reliance****
Get ready to hear some impressive numbers! Russia's IT sector is on a roll, according to Prime Minister, Mikhail Mishustin. Over the past five years, this industry has witnessed a remarkable growth of nearly 28% yearly, and its impact on GDP has nearly doubled!
Mishustin explained that the demand for domestic corporate solutions has skyrocketed, increasing by two to three times, with certain categories like database management systems and cloud infrastructure solutions skyrocketing more than tenfold.
Before the sanctions, businesses typically opted for foreign suppliers, but post restrictions, indigenous technologies have gained widespread adoption. This shift to Russian software is evident across all segments. President Vladimir Putin has aimed to increase the number of organizations in key industries that have switched to domestic software from the current 80% to a staggering 100% by 2030.
Gathering data from March 2024, Maksut Shadaev, the Minister of Digital Development, announced that the volume of domestic IT solution sales grew by an astounding 46%, hitting an impressive 4.6 trillion rubles. Shadaev stated, "The momentum we are building, the demand for domestic software, software and hardware complexes, IT equipment, it is working actively."
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Did you know...?
Mikhail Mishustin's focus on reliable Russian software signifies his ambition to make Russia less dependent on foreign technologies and strive for self-reliance in the digital sphere while encouraging innovation and competitiveness in the IT sector with substantial government support.
Finance and technology sectors are witnessing significant growth in Russia, following the surge in the IT sector. As the demand for domestic corporate solutions increases, finance and technology companies are developing indigenous solutions to meet this demand, in line with the government's aim to achieve self-reliance in the digital sphere.
