Sberbank Unveils Platform to Boost India-Russia Trade

Sberbank CEO and Chairman Herman Gref sees great potential for Indian small and medium-sized enterprises (SMEs) to tap into the Russian market. To facilitate this, Sberbank is launching a dedicated platform that will connect Indian businesses with Russian trading platforms and marketplaces.

Gref emphasizes that currency risk can be managed through hedging mechanisms, which would allow cross-border settlements to occur in local currencies rather than relying on the US dollar or euro. This approach, he believes, can help reduce sanctions-related risks for businesses participating in the trade ecosystem.

Sberbank aims to bring millions of Indian customers and producers into the Russian market over the next one to two years, with Gref suggesting that Indian SMEs could become a major driver of India-Russia trade. The bank's efforts are focused on making it easier for Indian businesses to enter the Russian market and expand their customer base.