During a press conference dedicated to the development of Russian-Indian business cooperation, Herman Gref, CEO and Chairman of the Executive Board of Sberbank, spoke about the bank’s current projects and strategic plans in the Indian market. He focused primarily on the creation of new financial and technological infrastructure, as well as the construction of the largest Russian business hub in India.
Financial Infrastructure and Transactions
Herman Gref noted that Sber has been developing its financial business in India for 16 years. Today, the bank serves tens of thousands of corporate clients in the Indian direction and acts as a key partner both for Russian companies seeking to enter the Indian market and for Indian companies doing business with Russia.
One of the key recent achievements has been resolving issues related to transactions between the two countries. Money transfers from India to Russia and back now take only a few minutes, and commissions for financial services between the countries are approaching the global average. This opens up new opportunities for business development.
Creation of a Business Center in New Delhi
To expand its presence in India, Sber has acquired two office buildings, which are already under construction and will be commissioned in 2028. In central New Delhi, the bank will create not only its own headquarters but also a business center for major Russian and Indian companies developing business cooperation between Russia and India. The total area of the complex will be 48,000 square meters. The project has become the largest Russian investment in India’s commercial real estate market. It will provide high-class offices for companies operating in the region.
A Digital Ecosystem for Russian-Indian Relations
Sber announced the launch of two specialized platforms for business in both countries.
One of them is a recruitment platform that brings together Russian and Indian recruiting agencies and government services. Its goal is to attract Indian specialists to the Russian market, which is experiencing an acute shortage of personnel. In addition, the project will promote cultural exchange and strengthen business ties.
The second is an IT platform for finding partners, developed jointly with major Indian companies. It will provide Indian businesses with all the necessary information about opportunities in the Russian market, regulatory frameworks, and potential partners. Given that Sber serves about 50% of the Russian market and has three million corporate clients, establishing connections between Indian companies and Russian partners will be simple and effective.
The main task is to create a digital ecosystem for companies in both countries and balance the trade deficit. Currently, the imbalance is about USD 50 billion in Russia’s favor. Sber intends to increase the share of Indian exports in the Russian market. It is expected that by the end of the current year, the bank will service more than 15% of all trade turnover between the countries.
Herman Gref also emphasized that the bank is interested in partnership with India in three key areas: financial services, technology, and education and healthcare.
Herman Gref, CEO, Chairman of the Executive Board of Sberbank said, “We attract investors to the Indian market and try to support them. We also serve as a bridge for Indian companies to the Russian market. It is much easier for us because we are a large company and understand all the market opportunities in Russia. We would also like to attract investors and finance them if they are ready to invest in the Russian market. We will try to build infrastructure for their business together with them.”
Commenting on the investment strategy, Herman Gref explained that Sber acts not so much as a direct investor but as a “bridge” and intermediary for Russian companies and investors entering the Indian market, and also supports Indian businesses wishing to invest in Russia. Over the past five years, the bank’s business in India has grown at least tenfold, and discussions of new opportunities continue.
