diff --git a/CMakeLists.txt b/CMakeLists.txt
index 6c3797d10ca..dfce1809cf1 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -148,6 +148,7 @@ build_ngraph()
 add_subdirectory(inference-engine)
 add_subdirectory(model-optimizer)
 add_subdirectory(docs)
+add_subdirectory(tools)
 
 #
 # Shellcheck
diff --git a/inference-engine/ie_bridges/python/src/openvino/inference_engine/CMakeLists.txt b/inference-engine/ie_bridges/python/src/openvino/inference_engine/CMakeLists.txt
index d8e7b55dca4..3133549bff6 100644
--- a/inference-engine/ie_bridges/python/src/openvino/inference_engine/CMakeLists.txt
+++ b/inference-engine/ie_bridges/python/src/openvino/inference_engine/CMakeLists.txt
@@ -67,14 +67,6 @@ add_custom_command(TARGET ${TARGET_NAME}
     COMMAND ${CMAKE_COMMAND} -E copy ${PYTHON_BRIDGE_SRC_ROOT}/src/openvino/__init__.py ${CMAKE_LIBRARY_OUTPUT_DIRECTORY}/../__init__.py
 )
 
-# creates a folder in openvino directory and a symlink to benchmark
-# inside bin directory for developers for running python benchmark_app
-add_custom_command(TARGET ${TARGET_NAME}
-    POST_BUILD
-    COMMAND ${CMAKE_COMMAND} -E make_directory ${CMAKE_LIBRARY_OUTPUT_DIRECTORY}/../tools
-    COMMAND ${CMAKE_COMMAND} -E copy_directory ${OpenVINO_MAIN_SOURCE_DIR}/tools/benchmark  ${CMAKE_LIBRARY_OUTPUT_DIRECTORY}/../tools/benchmark
-)
-
 # install
 
 install(TARGETS ${INSTALLED_TARGETS}
diff --git a/inference-engine/tools/CMakeLists.txt b/inference-engine/tools/CMakeLists.txt
index 19bc1ce21e5..22fa6e3e6c2 100644
--- a/inference-engine/tools/CMakeLists.txt
+++ b/inference-engine/tools/CMakeLists.txt
@@ -3,19 +3,4 @@
 #
 
 add_subdirectory(vpu)
-
 add_subdirectory(compile_tool)
-
-# install
-
-if(ENABLE_PYTHON)
-    ie_cpack_add_component(python_tools DEPENDS core)
-
-    install(DIRECTORY ${CMAKE_CURRENT_SOURCE_DIR}/benchmark_tool
-            DESTINATION deployment_tools/tools
-            COMPONENT python_tools)
-
-    install(DIRECTORY ${CMAKE_CURRENT_SOURCE_DIR}/cross_check_tool
-            DESTINATION deployment_tools/tools
-            COMPONENT python_tools)
-endif()
diff --git a/tools/CMakeLists.txt b/tools/CMakeLists.txt
new file mode 100644
index 00000000000..fa573d5b519
--- /dev/null
+++ b/tools/CMakeLists.txt
@@ -0,0 +1,55 @@
+# Copyright (C) 2018-2021 Intel Corporation
+# SPDX-License-Identifier: Apache-2.0
+cmake_minimum_required(VERSION 3.13)
+project(python_tools)
+
+if(NOT DEFINED OpenVINO_MAIN_SOURCE_DIR)
+    find_package(InferenceEngineDeveloperPackage QUIET)
+endif()
+find_package(PythonInterp)
+
+if(PYTHONINTERP_FOUND)
+    set(PYTHON_VERSION python${PYTHON_VERSION_MAJOR}.${PYTHON_VERSION_MINOR})
+else()
+    message(FATAL_ERROR "Python Interpreter was not found!")
+endif()
+
+set(TARGET_NAME "python_tools")
+
+if(WIN32)
+    set(PYTHON_BRIDGE_OUTPUT_DIRECTORY ${CMAKE_LIBRARY_OUTPUT_DIRECTORY}/$<CONFIG>/python_api/${PYTHON_VERSION}/openvino)
+else()
+    set(PYTHON_BRIDGE_OUTPUT_DIRECTORY ${CMAKE_LIBRARY_OUTPUT_DIRECTORY}/python_api/${PYTHON_VERSION}/openvino)
+endif()
+
+if(ENABLE_PYTHON)
+
+    # creates a copy inside bin directory for developers to have ability running python benchmark_app
+    add_custom_target(${TARGET_NAME} ALL
+        COMMAND ${CMAKE_COMMAND} -E make_directory ${PYTHON_BRIDGE_OUTPUT_DIRECTORY}/tools
+        COMMAND ${CMAKE_COMMAND} -E copy_directory ${OpenVINO_MAIN_SOURCE_DIR}/tools/benchmark ${PYTHON_BRIDGE_OUTPUT_DIRECTORY}/tools/benchmark
+    )
+
+    ie_cpack_add_component(python_tools_${PYTHON_VERSION})
+    ie_cpack_add_component(python_tools)
+
+    install(DIRECTORY ../inference-engine/tools/benchmark_tool
+            DESTINATION deployment_tools/tools
+            COMPONENT python_tools)
+
+    install(DIRECTORY ../inference-engine/tools/cross_check_tool
+            DESTINATION deployment_tools/tools
+            COMPONENT python_tools)
+
+    install(FILES README.md
+            DESTINATION python/${PYTHON_VERSION}/openvino/tools
+            COMPONENT python_tools_${PYTHON_VERSION})
+
+    install(DIRECTORY benchmark/
+            DESTINATION python/${PYTHON_VERSION}/openvino/tools
+            USE_SOURCE_PERMISSIONS
+            COMPONENT python_tools_${PYTHON_VERSION})
+    
+    ie_cpack(python_tools python_tools_${PYTHON_VERSION})
+
+endif()