Sber India.
Sber has purchased two business centers in New Delhi, raised the share of instant payments to a record 90%, and continues to develop its IT hub in Bangalore. How Russia's largest bank is restructuring its operations with India and why the country is becoming the key economic partner in the Southeast - First Deputy Chairman of Executive Board of Sber Alexander Vedyakhin spoke about this.
Sber recently acquired two business centers in New Delhi. This is probably the most high-profile event of the year for Russian business in India. Could you tell us more about it ?
This is a landmark strategic move. We purchased two office buildings in the Bharat Business Park complex in New Delhi. But more importantly, on the basis of these premises, together with partners, we are creating a Russian and Indian Business Center. This will be a true hub where Russian and Indian companies can get a full range of services - from office rental to legal and financial support.
Trade turnover between India and Russia is growing. How is Sber facilitating business in terms of financial interaction ?
We have made bilateral payments between the countries almost instant. Over 90% of payments from Russia to India go through in less than 10 minutes, and a third - in less than a minute. We offer a full set of products for financing Indian exporters as well as Russian importers, actively lend to joint ventures in India, raised the deposit rate for corporate clients in India to 8.5% per annum in rupees, and launched electronic wallets for tourists. In essence, we have built a full-fledged transaction business that works faster and cheaper than many local banks.
It is said that Sber actively uses AI in its work with India. Is that really the case ?
Absolutely. We have an IT hub in Bangalore - India's Silicon Valley - with over 250 developers. We believe that the future of global AI is built through cooperation, and India is our key partner in this regard. By the way, our employees in India are already actively using our AI assistant, GigaChat, for work. Technology is a new driver of our partnership.
The Eastern Economic Forum (EEF) is underway. What topics regarding cooperation with India have you discussed in the sessions, and what are your expectations for the near future of interaction between the countries ?
We are heading toward the goal of $100 billion in trade turnover. But there is enormous work ahead, not only in volumes but also in structure. We must replace traditional goods with high-tech ones. We have a powerful resource - the trust of the young Indian generation in Russia. This was shown by a survey from the Foreign Policy Survey 2025: Young India and the Middle East, the results of which were presented in May 2026 by the independent think tank Observer Research Foundation (ORF). The survey was conducted among more than 5,000 urban Indian residents aged 18-35 regarding their perception of India's foreign policy.
According to the study's results, Russia ranks 1st in young Indians' satisfaction with the state of bilateral relations, and also leads among potentially leading partners for India over the next 10 years. The stability of the result is especially important: the assessment of relations with Russia remained almost unchanged from the previous wave of the survey - 72% in the current document versus 73% a year earlier. And our task is to translate the trust of India's young generation in Russia into concrete business projects. I am confident we will succeed.
