Date:05/12/2004 URL: http://www.thehindubusinessline.com/2004/12/05/stories/2004120501590300.htm

Back India and Russia must tap each other's strengths: Putin

Our Bureau

Bangalore , Dec. 4

THE Russian President, Mr Vladimir Putin, said on Saturday that both Russia and India should leverage each other's strengths to develop software for exporting to a third market.

Addressing a joint meeting of the Confederation of Indian Industry (CII) and the Federation of Indian Chamber of Commerce and Industry (FICCI), Mr Putin who is on a two-day visit to Bangalore, said Russia was prepared to set up an international institute of information technology for which it will take the help of India. The institute is to be based in Moscow and it will work in the area of computer science and the development high-end software.

The Russian President said both the countries should tap the potential for cooperation in various fields apart from focussing on information technology. He said though the old ties have led to strong cooperation between the two countries, the full potential is yet to be realised. He said Russia would seek the help of India with its experience in setting up special economic zones with tax breaks for joint ventures in all fields, including information technology.

He also sought India's cooperation in setting up information technology parks in the small and medium enterprise sector. The Karnataka Chief Minister, Mr N. Dharam Singh, said Karnataka had a good advantage in the knowledge industry and sought Russia's cooperation in the development of high-end technology.

Mr Putin will visit the Infosys campus on Sunday where he will address the company's employees.

He will also visit Hindustan Aeronautics Ltd where he will be given a demonstration of some of the new aircraft developed by the public sector undertaking.