Released on: January 21, 2008, 1:05 am

Press Release Author: Shushmul Maheshwari

Industry: Industrial

Press Release Summary: Russian IT and Outsourcing industry is growing brilliantly.
As per the RNCOS report, factors like human capital, favorable tax structure and
geographical proximity are making Russia sought-after destination for offshore
investors.

Press Release Body: Russia, the transcontinental country, is finally out of the
doldrums of 1998 financial crisis. The country has been recording exceptional GDP
growth on the back of its strongly established industries and IT and Outsourcing
(ITO) is one of them. According to “Russia IT and Outsourcing Industry Forecast to
2011”, a research report by RNCOS, the leading market research firm, Russia is fast
gaining traction in the ITO market by escalating its share.

The study has identified Russia to be the future ITO center as the country has all
the necessary forces, including a strong human capital and favorable tax regime. But
there are other factors too supporting the growth of the Russian ITO industry. The
research has evaluated these factors in detail to show Russia’s dominance over other
countries.

Russians are generally associated with creativity, autonomy and
problem-solving-oriented thinking. The RNCOS report has tried to find out how these
traits are giving the country’s ITO industry an edge and compelling offshore
investors to look at the country as the next outsourcing stop after India and China
to establish their offshore development centers. Thus, more and more international
investors are entering the country to set their base for outsourcing while the
domestic companies too have turned their attention on export market.

Moreover, Russia is geographically close to several countries, including Norway,
Belarus, North Korea and Finland. The research report has counted the geographical
proximity of the country in its favor and examined how similarities in time zone are
helping the Russia software companies to give better services.

Government support is considered vital for the success of any industry. The Russian
government too is working to make its ITO industry a success. The research report
has thoroughly studied the initiatives taken by the Russian government to foster the
development of the ITO industry.

Increasing foreign investment and government initiatives, says the report, will fuel
the software exports from Russia in future. Due to these strong factors, the Russian
software exports are expected to make up for around 10% of the global software
outsourcing industry through 2010, 7% high from 2006, making the country the third
largest outsourcing market.

“Russia IT and Outsourcing Industry Forecast to 2011” gives a comprehensive overview
of the ITO industry, including its past and current performance, IT spending,
customized and packaged software market analysis, and opportunities and challenges
for the industry.

About RNCOS:

RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of
industry experts who analyze data collected from credible sources. They provide
industry insights and analysis that helps corporations to take timely and accurate
business decision in today\'s globally competitive environment.

For more information visit: http://www.rncos.com/Report/IM570.htm
Current Industry News: http://www.rncos.com/blog


Web Site: http://www.rncos.com

Contact Details: RNCOS E-Services Pvt Ltd.
Shushmul Maheshwari
Head of Business Development
29, 1st Floor, Patparganj Industrial Area, Delhi 92
91-11-4214-1229
info@rncos.com