Sberbank talked about the prospects for the development of trade with India

Russian business will make efforts to increase and diversify trade turnover between Russia and India. The main goal today is to reach the level of 100 billion rubles with a decrease in the percentage of energy resources. Alexander Vedyakhin, First Deputy Chairman of the Board of Sberbank, spoke about this during VEB-2025.

"In 2020, the trend towards India began, and we are actively pushing forward the Indian agenda. Our goal is to reach $100 billion in trade turnover between the two countries by 2030," said Alexander Vedyakhin, speaking at the Russia-India business lunch: The Economy of the Future.

As many participants of the event emphasized, the Russian-Indian economic partnership has great potential, but so far it has only partially been realized. Energy accounts for 90% of the trade turnover, which currently stands at $63 billion, so diversification is becoming more and more urgent. Representatives of India noted that their country is interested in expanding Russian exports, for example, gold and copper, and organizing joint ventures, including high-tech ones.

Vedyakhin also stressed the importance of developing business ties not only at the inter-country level, but also at the level of specific representatives of small, medium and large businesses. According to him, the development of relations between the two countries is helped by the joint educational program between Sbera and the Higher School of Economics for Indian entrepreneurs who want to do business with Russia and Russian businesses who want to work with India.

"We received important insights at our business lunch. It was an open conversation, we talked honestly about the problems. We will work out all the issues raised and make every effort to achieve the goal of 100 billion in trade turnover, not only due to oil," Alexander Vedyakhin said.