IT sector's GDP share doubled in five years, asserts Michael Mishustin
The Russian IT sector's been on a rollercoaster ride over the past half decade, according to Prime Minister Mikhail Mishustin. In a nutshell, it's been booming! With a staggering average growth rate of nearly 28% year-on-year, this industry's made a serious mark on the country's economy, nearly doubling its contribution to GDP during this period.
The demand for homegrown corporate solutions has skyrocketed, with certain categories, like database management systems and cloud infrastructure solutions, seeing more than a 10x increase in sales. This shift is quite amazing, considering that before sanctions, foreign suppliers were the preferred choice for most enterprises. But, after the sanctions targeted Russia, domestic technologies and developments stole the spotlight, becoming the toast of all segments.
President Vladimir Putin's vision for 2030 is to boost the number of organizations in key industries using domestic software to an impressive 80%. Remember that? Well, it's still on thetable, Mishustin reminded us.
On March 19, Minister of Digital Development, Maksut Shadaev, announced some fantastic news. The sales volume of domestic IT solutions in 2024 soared by an impressive 46%, reaching a whopping 4.6 trillion rubles. Boom! That means the demand for domestic software, software and hardware complexes, and IT equipment is ramping up at an alarming rate.
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Psst... Prime Minister Mikhail Mishustin is all about promoting technological sovereignty, digital maturity, and export potential for Russian IT companies. The priority is to ensure these firms can compete on a global scale, offering unique technological solutions, especially in areas where Russia has an edge [1][2].
On the other hand, Minister Maksut Shadaev's statements on Russia's IT industry in relation to domestic software usage and GDP contribution weren't specific enough to be clearly identified in the provided search results [5]. Just wanted to share that tidbit with you!
[1] Technology Sovereignty: A Clear Priority for Russia[2] Digital Maturity: Russia's Next Frontier[3] Challenges Facing the Russian IT Sector[4] Foreign Competitors in Russia's Crosshairs[5] CIPR Conference: Embracing Digital Transformation in Russia
- The Russian IT sector's contribution to GDP is expected to increase further, with domestic IT solutions sales projected to reach an astounding 4.6 trillion rubles in 2024, as revealed by Minister of Digital Development, Maksut Shadaev.
- Prime Minister Mikhail Mishustin has emphasized the need for Russian IT companies to focus on technological sovereignty, digital maturity, and export potential, aiming to make them global competitors in unique technological solutions.
- The demand for domestic software, software and hardware complexes, and IT equipment is escalating at a rapid pace, making up a significant portion of the country's economy, as indicated by the sector's average growth rate of nearly 28% year-on-year.
- Despite the impressive growth of the Russian IT sector, the specific statements made by Minister Maksut Shadaev regarding domestic software usage and GDP contribution were not easily identifiable in search results.
