Sberbank publishes guide for Indian entrepreneurs planning to localise biz in Russia

New Delhi, Sep 3 (PTI) India and Russia have set a goal of USD 100 billion bilateral trade by 2030, and Sberbank will facilitate corporates in deepening business and achieve the objective, the bank's First Deputy Chairman of the Executive Board Alexander Vedyakhin said on Wednesday.

In a bid to expand trade, Sberbank has published a guide for Indian entrepreneurs planning to localise their businesses in Russia.

And for Russian businesses, the bank regularly prepares a digest on the prospects of the Indian market, the bank said in a statement.

Sberbank of Russia has been operating in India for 15 years, and the bank has a presence in Delhi and Mumbai. Besides, it launched an IT hub in Bengaluru.

"In 2020, a trend toward India began, and we are actively promoting the Indian agenda. Our goal is to achieve USD 100 billion in trade between the two countries by 2030," he said.

Russian-Indian economic partnership has great potential, but so far only part of it has been realised, he said, adding that 99 per cent of trade turnover, which currently stands at USD 63 billion, is accounted for by energy resources - diversification is needed.

Bilateral trade between India and Russia reached a record high of USD 68.7 billion in 2024-25, nearly 5.8 times higher than the pre-pandemic trade of USD 10.1 billion.

It comprises India's exports worth USD 4.88 billion and imports from Russia amounting to USD 63.84 billion. PTI DP DP SHW