St Petersburg, June 22 -- 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 c...