diff --git a/cmake/developer_package/IEDevScriptsConfig.cmake b/cmake/developer_package/IEDevScriptsConfig.cmake
index 58dfb519e50..4b924633d2f 100644
--- a/cmake/developer_package/IEDevScriptsConfig.cmake
+++ b/cmake/developer_package/IEDevScriptsConfig.cmake
@@ -14,7 +14,13 @@ set(CMAKE_MODULE_PATH "${IEDevScripts_DIR}")
 function(set_ci_build_number)
     set(repo_root "${CMAKE_SOURCE_DIR}")
     include(version)
-    set(CI_BUILD_NUMBER "${CI_BUILD_NUMBER}" PARENT_SCOPE)
+    foreach(var CI_BUILD_NUMBER IE_VERSION
+                IE_VERSION_MAJOR IE_VERSION_MINOR IE_VERSION_PATCH)
+        if(NOT DEFINED ${var})
+            message(FATAL_ERROR "${var} version component is not defined")
+        endif()
+        set(${var} "${${var}}" PARENT_SCOPE)
+    endforeach()
 endfunction()
 
 set_ci_build_number()
diff --git a/cmake/developer_package/version.cmake b/cmake/developer_package/version.cmake
index c17c55b7b20..b1e89e877ca 100644
--- a/cmake/developer_package/version.cmake
+++ b/cmake/developer_package/version.cmake
@@ -26,6 +26,55 @@ function (commitHash VAR)
     set (${VAR} ${GIT_COMMIT_HASH} PARENT_SCOPE)
 endfunction()
 
+macro(ie_parse_ci_build_number)
+    if(CI_BUILD_NUMBER MATCHES "^([0-9]+)\.([0-9]+)\.([0-9]+)\-.*")
+        set(IE_VERSION_MAJOR ${CMAKE_MATCH_1})
+        set(IE_VERSION_MINOR ${CMAKE_MATCH_2})
+        set(IE_VERSION_PATCH ${CMAKE_MATCH_3})
+        set(has_ci_version ON)
+    else()
+        set(IE_VERSION_MAJOR 0)
+        set(IE_VERSION_MINOR 0)
+        set(IE_VERSION_PATCH 0)
+    endif()
+
+    if(NOT DEFINED repo_root)
+        message(FATAL_ERROR "repo_root is not defined")
+    endif()
+
+    if(DEFINED InferenceEngineDeveloperPackage_DIR)
+        set(ie_version_hpp "${IE_MAIN_SOURCE_DIR}/include/ie_version.hpp")
+        if(NOT EXISTS ${ie_version_hpp})
+            message(FATAL_ERROR "File ie_version.hpp with IE_VERSION definitions is not found")
+        endif()
+
+        file(STRINGS "${ie_version_hpp}" IE_VERSION_PARTS REGEX "#define IE_VERSION_[A-Z]+[ ]+" )
+
+        string(REGEX REPLACE ".+IE_VERSION_MAJOR[ ]+([0-9]+).*" "\\1"
+               IE_VERSION_MAJOR_HPP "${IE_VERSION_PARTS}")
+        string(REGEX REPLACE ".+IE_VERSION_MINOR[ ]+([0-9]+).*" "\\1"
+               IE_VERSION_MINOR_HPP "${IE_VERSION_PARTS}")
+        string(REGEX REPLACE ".+IE_VERSION_PATCH[ ]+([0-9]+).*" "\\1"
+               IE_VERSION_PATCH_HPP "${IE_VERSION_PARTS}")
+
+        foreach(var IE_VERSION_MAJOR IE_VERSION_MINOR IE_VERSION_PATCH)
+            if(DEFINED ${var} AND NOT ${var} EQUAL ${var}_HPP)
+                message(FATAL_ERROR "${var} parsed from CI_BUILD_NUMBER (${${var}}) \
+                    and from ie_version.hpp (${${var}_HPP}) are different")
+            else()
+                # CI_BUILD_NUMBER is not defined well, take info from ie_verison.hpp as a baseline
+                set(${var} ${${var}_HPP})
+            endif()
+        endforeach()
+    elseif(has_ci_version)
+        message(WARNING "IE_MAIN_SOURCE_DIR is not defined. No way to compare versions")
+    else()
+        message(WARNING "No way to detect OpenVINO version. Supposing 0.0.0.0")
+    endif()
+
+    set(IE_VERSION "${IE_VERSION_MAJOR}.${IE_VERSION_MINOR}.${IE_VERSION_PATCH}")
+endmacro()
+
 if (DEFINED ENV{CI_BUILD_NUMBER})
     set(CI_BUILD_NUMBER $ENV{CI_BUILD_NUMBER})
 else()
@@ -36,6 +85,11 @@ else()
     set(CI_BUILD_NUMBER "${custom_build}")
 endif()
 
+# provides Inference Engine version
+# 1. If CI_BUILD_NUMBER is defined, parses this information
+# 2. Otherwise, parses ie_version.hpp
+ie_parse_ci_build_number()
+
 function (addVersionDefines FILE)
     foreach (VAR ${ARGN})
         if (DEFINED ${VAR} AND NOT "${${VAR}}" STREQUAL "")
diff --git a/cmake/developer_package/vs_version/vs_version.cmake b/cmake/developer_package/vs_version/vs_version.cmake
index 21063c86aca..14d4c0e1e26 100644
--- a/cmake/developer_package/vs_version/vs_version.cmake
+++ b/cmake/developer_package/vs_version/vs_version.cmake
@@ -2,24 +2,9 @@
 # SPDX-License-Identifier: Apache-2.0
 #
 
-macro(ie_parse_ci_build_number)
-    if(CI_BUILD_NUMBER MATCHES "^([0-9]+)\.([0-9]+)\.([0-9]+)\-.*")
-        set(IE_VERSION_MAJOR ${CMAKE_MATCH_1})
-        set(IE_VERSION_MINOR ${CMAKE_MATCH_2})
-        set(IE_VERSION_PATCH ${CMAKE_MATCH_3})
-        set(IE_VS_VER_HAS_VERSION 1)
-    else()
-        set(IE_VS_VER_HAS_VERSION 0)
-    endif()
-endmacro()
-
-ie_parse_ci_build_number()
-
-if(IE_VS_VER_HAS_VERSION)
-    set(IE_VS_VER_FILEVERSION_QUAD "${IE_VERSION_MAJOR},${IE_VERSION_MINOR},${IE_VERSION_PATCH},0")
-    set(IE_VS_VER_PRODUCTVERSION_QUAD "${IE_VERSION_MAJOR},${IE_VERSION_MINOR},${IE_VERSION_PATCH},0")
-    set(IE_VS_VER_FILEVERSION_STR "${IE_VERSION_MAJOR}.${IE_VERSION_MINOR}.${IE_VERSION_PATCH}.0")
-endif()
+set(IE_VS_VER_FILEVERSION_QUAD "${IE_VERSION_MAJOR},${IE_VERSION_MINOR},${IE_VERSION_PATCH},0")
+set(IE_VS_VER_PRODUCTVERSION_QUAD "${IE_VERSION_MAJOR},${IE_VERSION_MINOR},${IE_VERSION_PATCH},0")
+set(IE_VS_VER_FILEVERSION_STR "${IE_VERSION_MAJOR}.${IE_VERSION_MINOR}.${IE_VERSION_PATCH}.0")
 
 set(IE_VS_VER_COMPANY_NAME_STR "Intel Corporation")
 set(IE_VS_VER_PRODUCTVERSION_STR "${CI_BUILD_NUMBER}")
diff --git a/cmake/developer_package/vs_version/vs_version.rc.in b/cmake/developer_package/vs_version/vs_version.rc.in
index b515b311883..f5375d5f306 100644
--- a/cmake/developer_package/vs_version/vs_version.rc.in
+++ b/cmake/developer_package/vs_version/vs_version.rc.in
@@ -1,10 +1,8 @@
 #include <winver.h>
 
 VS_VERSION_INFO         VERSIONINFO
-#if @IE_VS_VER_HAS_VERSION@
   FILEVERSION           @IE_VS_VER_FILEVERSION_QUAD@
   PRODUCTVERSION        @IE_VS_VER_PRODUCTVERSION_QUAD@
-#endif
   FILEFLAGSMASK         VS_FFI_FILEFLAGSMASK
 #ifdef _DEBUG
   FILEFLAGS             1
@@ -21,9 +19,7 @@ BEGIN
     BEGIN
       VALUE "CompanyName", "@IE_VS_VER_COMPANY_NAME_STR@\0"
       VALUE "FileDescription", "@IE_VS_VER_FILEDESCRIPTION_STR@\0"
-#if @IE_VS_VER_HAS_VERSION@
       VALUE "FileVersion", "@IE_VS_VER_FILEVERSION_STR@\0"
-#endif
       VALUE "InternalName", "@IE_VS_VER_INTERNALNAME_STR@\0"
       VALUE "LegalCopyright", "@IE_VS_VER_COPYRIGHT_STR@\0"
       VALUE "OriginalFilename", "@IE_VS_VER_ORIGINALFILENAME_STR@\0"
diff --git a/inference-engine/CMakeLists.txt b/inference-engine/CMakeLists.txt
index 1066dcaf35d..2e390c9e6ab 100644
--- a/inference-engine/CMakeLists.txt
+++ b/inference-engine/CMakeLists.txt
@@ -148,7 +148,7 @@ configure_file(
 configure_file(
     "${IE_MAIN_SOURCE_DIR}/cmake/templates/InferenceEngineConfig-version.cmake.in"
     "${CMAKE_BINARY_DIR}/InferenceEngineDeveloperPackageConfig-version.cmake"
-    COPYONLY)
+    @ONLY)
 
 #
 # Coverage
diff --git a/inference-engine/cmake/ie_parallel.cmake b/inference-engine/cmake/ie_parallel.cmake
index a4960ce3430..edf3d2f2b26 100644
--- a/inference-engine/cmake/ie_parallel.cmake
+++ b/inference-engine/cmake/ie_parallel.cmake
@@ -46,8 +46,8 @@ function(set_ie_threading_interface_for TARGET_NAME)
         # they don't have TBB in public headers => PRIVATE
         set(LINK_TYPE "PRIVATE")
     elseif(target_type STREQUAL "SHARED_LIBRARY")
-        # TODO: inference_engine only
-        # Why TBB propogates its headers to inference_engine?
+        # Affected libraries: inference_engine only
+        # TODO: why TBB propogates its headers to inference_engine?
         set(LINK_TYPE "PRIVATE")
     else()
         ext_message(WARNING "Unknown target type")
diff --git a/inference-engine/cmake/templates/InferenceEngineConfig-version.cmake.in b/inference-engine/cmake/templates/InferenceEngineConfig-version.cmake.in
index edd5777aeaf..f8018a41815 100644
--- a/inference-engine/cmake/templates/InferenceEngineConfig-version.cmake.in
+++ b/inference-engine/cmake/templates/InferenceEngineConfig-version.cmake.in
@@ -2,17 +2,19 @@
 # SPDX-License-Identifier: Apache-2.0
 #
 
-# TODO: hardcode will be fixed separatelly
-set(PACKAGE_VERSION_MAJOR 2)
-set(PACKAGE_VERSION_MINOR 1)
-set(PACKAGE_VERSION_PATCH 0)
-set(PACKAGE_VERSION_COUNT 3)
-
+set(PACKAGE_VERSION_MAJOR @IE_VERSION_MAJOR@)
+set(PACKAGE_VERSION_MINOR @IE_VERSION_MINOR@)
+set(PACKAGE_VERSION_PATCH @IE_VERSION_PATCH@)
 set(PACKAGE_VERSION "${PACKAGE_VERSION_MAJOR}.${PACKAGE_VERSION_MINOR}.${PACKAGE_VERSION_PATCH}")
 
 set(PACKAGE_VERSION_EXACT False)
 set(PACKAGE_VERSION_COMPATIBLE False)
 
+# Compatibility with old versioning for 2.x
+if(PACKAGE_FIND_VERSION_MAJOR VERSION_EQUAL 2)
+    set(PACKAGE_VERSION_COMPATIBLE True)
+endif()
+
 if(PACKAGE_FIND_VERSION VERSION_EQUAL PACKAGE_VERSION)
     set(PACKAGE_VERSION_EXACT True)
     set(PACKAGE_VERSION_COMPATIBLE True)
diff --git a/inference-engine/cmake/templates/InferenceEngineConfig.cmake.in b/inference-engine/cmake/templates/InferenceEngineConfig.cmake.in
index 73b6b966096..cdaa7e0b2c6 100644
--- a/inference-engine/cmake/templates/InferenceEngineConfig.cmake.in
+++ b/inference-engine/cmake/templates/InferenceEngineConfig.cmake.in
@@ -16,6 +16,12 @@
 #   IE::inference_engine            - The Inference Engine library
 #   IE::inference_engine_c_api      - The Inference Engine C API library
 #
+# Inference Engine version variables:
+#
+#   InferenceEngine_VERSION_MAJOR - major version component
+#   InferenceEngine_VERSION_MINOR - minor version component
+#   InferenceEngine_VERSION_PATCH - patch version component
+#
 
 @PACKAGE_INIT@
 
diff --git a/inference-engine/ie_bridges/c/src/CMakeLists.txt b/inference-engine/ie_bridges/c/src/CMakeLists.txt
index f17c3a881e3..882e42c6a80 100644
--- a/inference-engine/ie_bridges/c/src/CMakeLists.txt
+++ b/inference-engine/ie_bridges/c/src/CMakeLists.txt
@@ -29,10 +29,6 @@ ie_add_vs_version_file(NAME ${TARGET_NAME}
 export(TARGETS ${TARGET_NAME} NAMESPACE IE::
        APPEND FILE "${CMAKE_BINARY_DIR}/InferenceEngineTargets.cmake")
 
-# WA for CI issue
-export(TARGETS ${TARGET_NAME} NAMESPACE IE::
-       APPEND FILE "${CMAKE_BINARY_DIR}/share/InferenceEngineTargets.cmake")
-
 # install
 
 ie_cpack_add_component(core_c DEPENDS core)
diff --git a/inference-engine/include/ie_version.hpp b/inference-engine/include/ie_version.hpp
index 69982a0336a..2de7da9227a 100644
--- a/inference-engine/include/ie_version.hpp
+++ b/inference-engine/include/ie_version.hpp
@@ -3,12 +3,27 @@
 //
 
 /**
- * @brief A header file that provides versioning information for the inference engine shared library
+ * @brief A header file that provides versioning information for the Inference Engine library
  *
  * @file ie_version.hpp
  */
 #pragma once
 
+/**
+ * @def IE_VERSION_MAJOR
+ * @brief Defines Inference Engine major version
+ *
+ * @def IE_VERSION_MINOR
+ * @brief Defines Inference Engine minor version
+ *
+ * @def IE_VERSION_PATCH
+ * @brief Defines Inference Engine patch version
+ */
+
+#define IE_VERSION_MAJOR 2021
+#define IE_VERSION_MINOR 4
+#define IE_VERSION_PATCH 0
+
 #include "ie_api.h"
 
 /**
diff --git a/inference-engine/samples/CMakeLists.txt b/inference-engine/samples/CMakeLists.txt
index 333b88b3d23..e3aa243587a 100644
--- a/inference-engine/samples/CMakeLists.txt
+++ b/inference-engine/samples/CMakeLists.txt
@@ -133,7 +133,7 @@ if (CMAKE_CXX_COMPILER_ID STREQUAL "GNU")
     set(CMAKE_CXX_FLAGS "${CMAKE_CXX_FLAGS} -Wall")
 endif()
 
-find_package(InferenceEngine 2.1.0 EXACT REQUIRED)
+find_package(InferenceEngine REQUIRED)
 
 if(EXISTS "${CMAKE_CURRENT_SOURCE_DIR}/common/utils")
     add_subdirectory(common/utils)
diff --git a/inference-engine/src/inference_engine/CMakeLists.txt b/inference-engine/src/inference_engine/CMakeLists.txt
index 68e0f131721..de31d61a619 100644
--- a/inference-engine/src/inference_engine/CMakeLists.txt
+++ b/inference-engine/src/inference_engine/CMakeLists.txt
@@ -303,14 +303,7 @@ configure_package_config_file("${InferenceEngine_SOURCE_DIR}/cmake/templates/Inf
 
 configure_file("${IE_MAIN_SOURCE_DIR}/cmake/templates/InferenceEngineConfig-version.cmake.in"
                "${CMAKE_BINARY_DIR}/InferenceEngineConfig-version.cmake"
-               COPYONLY)
-
-# WA for CI
-configure_file("${IE_MAIN_SOURCE_DIR}/cmake/templates/InferenceEngineConfig-version.cmake.in"
-               "${CMAKE_BINARY_DIR}/share/InferenceEngineConfig-version.cmake"
-               COPYONLY)
-export(TARGETS ${TARGET_NAME} NAMESPACE IE::
-       APPEND FILE "${CMAKE_BINARY_DIR}/share/InferenceEngineTargets.cmake")
+               @ONLY)
 
 install(FILES "${CMAKE_BINARY_DIR}/share/InferenceEngineConfig.cmake"
               "${CMAKE_BINARY_DIR}/InferenceEngineConfig-version.cmake"
diff --git a/ngraph/cmake/share/ngraphConfig.cmake.in b/ngraph/cmake/share/ngraphConfig.cmake.in
index 950207ec672..1262f9e5f3c 100644
--- a/ngraph/cmake/share/ngraphConfig.cmake.in
+++ b/ngraph/cmake/share/ngraphConfig.cmake.in
@@ -36,9 +36,12 @@ if(NOT TARGET ngraph)
     include("${CMAKE_CURRENT_LIST_DIR}/ngraphTargets.cmake")
 endif()
 
+set(ngraph_ngraph_FOUND ON)
 set(NGRAPH_LIBRARIES ngraph::ngraph)
+
 set(ngraph_onnx_importer_FOUND @NGRAPH_ONNX_IMPORT_ENABLE@)
 if(ngraph_onnx_importer_FOUND)
     set(ONNX_IMPORTER_LIBRARIES ngraph::onnx_importer)
 endif()
+
 check_required_components(ngraph)