India, Russia Central Banks Already Working on Digital Currency Settlements: Sberbank CEO
21:15 11.09.2026 (Updated: 16:15 12.09.2026)
© Sputnik / Ruslan Krivobok
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Russia’s Sberbank is stepping up its expansion in India, with plans for a major business hub in New Delhi and new digital platforms aimed at strengthening trade, investment and business ties between the two countries, the chairman and CEO German Gref told.
Speaking at a press conference on Russian-Indian business cooperation, Gref outlined the bank’s strategy for expanding its financial and technological footprint in India.
New Delhi Hub to Open in 2028
Sberbank has acquired two office buildings in central New Delhi that are currently under construction and are expected to be completed in 2028, the bank's CEO stated.
The 48,000-square-metre complex will house Sber’s headquarters as well as a business center for major Russian and Indian companies seeking to expand bilateral cooperation.
The project represents its largest investment in India’s commercial real estate market and will provide office space and infrastructure for companies operating across the two markets, Gref emphasised.
Faster Cross-Border Payments
Gref said Sber has been developing its business in India for 16 years and now serves tens of thousands of corporate clients involved in Russia-India trade.
He said cross-border payment arrangements have improved significantly, with transfers between India and Russia now taking only a few minutes and transaction fees moving closer to global averages.
Sberbank makes India-Russia investment its ‘priority number one’: CEO
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"We’re trying to open all the opportunities in the Indian market. (Our) priority number one (is) to bring direct investment to the Indian market and also to direct strategic investors from the Indian market to… pic.twitter.com/DLvvCWMIop
Sber aims to further position itself as a financial bridge between businesses in the two countries.
Digital Platforms to Connect Businesses
The bank is also launching two specialized digital platforms.
One will connect Russian and Indian recruitment agencies and government services, with the aim of bringing Indian professionals to Russia amid labor shortages while also promoting cultural and business ties.
The second will be an IT platform designed to help Indian companies identify Russian business partners and navigate the Russian market, including regulatory requirements and commercial opportunities.
Sber said its scale in Russia — where it serves around 50% of the market and has approximately three million corporate clients — will help facilitate connections between Indian businesses and potential Russian partners.
Focus on Closing Trade Imbalance
A key objective is to help narrow the current trade imbalance, which he put at around $50 billion in Russia’s favor, Gref underscored.
Sberbank plans to increase the share of Indian exports in the Russian market and expects to handle more than 15% of total trade turnover between Russia and India by the end of 2026, according to the chairman.
The bank is focusing its India strategy on three broad areas: financial services, technology, and education and healthcare.
‘A Bridge’ for Investors
Gref said Sber sees its role primarily as a bridge between investors and businesses in the two markets rather than simply as a direct investor.
“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,” Gref underlined.
He added that Sberbank is prepared to help finance companies willing to invest in Russia and build the necessary business infrastructure alongside them.
Sberbank's business in India has grown at least tenfold over the past five years, with the bank continuing to explore new opportunities for expansion, he outlined.
The latest initiatives underscore Sber’s broader effort to deepen financial and technological links between Russia and India while facilitating greater two-way investment and trade, the CEO concluded.
