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India-Russia Trade Shifts Toward Technology as Payments Speed Up
Russia and India are trading more technology and industrial goods than before.
Alexander Vedyakhin of Sberbank said payments between the countries have become much faster.
More than nine out of ten payments from Russia to India now take less than ten minutes.
Many payments can be completed online without people checking each step manually.
Indian companies are increasingly selling machines, electronics, car parts, batteries, and technical fabrics to Russia.
Smartphone exports from India to Russia and nearby markets have grown especially quickly.
Sberbank is helping Russian businesses find Indian suppliers and make payments.
The bank expects trade and technology services between the two countries to keep growing through 2027.
Sberbank says over 90% of Russia-to-India payments now process in under 10 minutes.
Nearly 35% of those payments are completed within 60 seconds, according to Sberbank.
Indian exports to Russia are shifting toward industrial equipment, electronics, auto components, and batteries.
Indian smartphone exports to Russia and neighboring markets more than tripled to $1.1 billion.
Sberbank estimates India’s unrealized export potential to Russia at $35.7 billion.
- Who
- Sberbank First Deputy Chairman Alexander Vedyakhin discussed trade and payment links between Russian and Indian businesses.
- What
- Payments are becoming faster while Indian exports to Russia are shifting toward technology and industrial products.
- Where
- The discussion took place on the sidelines of the Innoprom industrial exhibition in India and concerns trade between Russia and India.
- When
- The article cites changes over the past two years, data from 2025 and the first eight months of 2026, and plans for 2027.
- Why
- Sberbank is developing payment services and supplier-matching tools to support bilateral trade and expand Indian exports to Russia.
Key facts
- Fast payments
- More than 90% of payments from Russia to India are processed in less than 10 minutes.
- Instant transfers
- Almost 35% of payments are completed within 60 seconds.
- Online processing
- Around 40% of payments sent by Indian companies to Russia take place entirely online.
- Industrial equipment
- The share of electrical machines and industrial equipment rose from 6.3% to 7.8% in one financial year.
- Smartphone exports
- Smartphone supplies from India to Russia and the CIS countries more than tripled to $1.1 billion.
- Technical textiles
- Technical textile supplies to Russia increased 82% to $23.2 million in 2025.
- Export potential
- Strategy Partners estimates India’s unrealized export potential to Russia at $35.7 billion.
Quotes
Alexander Vedyakhin
First Deputy Chairman of the Executive Board of Sberbank
“In 2027, we will actively develop payment services in India and introduce high-tech solutions based on artificial intelligence to automate processes.”
republicworld.com
“Today, the question of how many days a payment between our countries will take has been removed from the agenda.”
republicworld.com
Sources
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