SberIndia, the Indian branch of Russia’s Sberbank, has reported a fourfold increase in lending to Indian companies over the past year, alongside a fivefold rise in the number of borrowers using the bank’s financing services.
The figures, released by Sberbank on October 1, 2026, point to growing demand for financial services supporting India-Russia trade, particularly among companies engaged in manufacturing and exports. Lending expanded most rapidly in the chemical industry, mechanical engineering, ceramic tiles and tyre manufacturing.
Number of Indian Borrowers Rises Fivefold
SberIndia said the number of companies borrowing from the bank increased five times during the year, while the overall volume of financing grew fourfold.
The expansion reflects increasing use of SberIndia’s working-capital financing, structured finance, documentary operations and trade-settlement services by Indian businesses.
The bank has also been developing relationships with larger Indian corporations while extending financial services to smaller companies participating in bilateral trade.
Small Businesses Account for 33% of Loan Portfolio
Small businesses currently account for 33% of SberIndia’s loan portfolio when exchange-traded factoring transactions conducted through India’s Trade Receivables Discounting System, or TReDS, are included.
TReDS provides a digital mechanism through which micro, small and medium enterprises can obtain financing against invoices raised on corporate buyers and other approved entities.
SberIndia’s participation in the system gives the bank an additional channel for financing Indian businesses beyond conventional corporate lending.
Chemicals and Engineering Lead Lending Growth
The fastest expansion in SberIndia lending was recorded among companies operating in chemicals, mechanical engineering, ceramic tile manufacturing and tyre production.
These sectors are significant because they represent value-added manufactured goods rather than only traditional commodity trade.
The lending pattern indicates that financial links between India and Russia are increasingly supporting industrial businesses involved in manufacturing, machinery, processed products and cross-border supply chains.
Trade Finance Demand Growing Among Indian Exporters
SberIndia CEO Ivan Nosov said the bank was seeing increasing demand from Indian exporters for letter-of-credit discounting and post-financing facilities.
Letter-of-credit financing can help exporters receive payment earlier while allowing overseas buyers to settle transactions according to agreed credit terms. Such arrangements are particularly useful in international trade where payment cycles can be longer and banks play an important role in reducing commercial risk.
SberIndia is also financing foreign-trade contracts between Indian and Russian companies and offering project lending for businesses involved in bilateral economic activity.
According to Nosov, the bank is seeking to expand financial infrastructure that supports higher-value trade between the two economies.
National-Currency Settlements Form Part of SberIndia Services
The bank also provides settlement services in national currencies, an area that has gained importance as Indian and Russian businesses seek alternative mechanisms for conducting bilateral trade.
Financial connectivity has become a critical component of India-Russia commerce because businesses require reliable payment channels, working capital and trade-finance instruments to support the movement of goods between the two markets.
SberIndia’s expansion therefore reflects more than conventional domestic lending. A considerable portion of its activity is linked directly to facilitating commercial transactions involving companies operating across India-Russia trade corridors.
India-Russia Trade Finance Moves Beyond Traditional Commodities
The growth of financing in engineering, chemicals, tyres and ceramics points towards a gradual widening of commercial engagement beyond the sectors that traditionally dominate India-Russia trade.
For Indian manufacturers, access to working capital, export finance and documentary banking services can make it easier to enter or expand within the Russian market.
SberIndia’s fourfold increase in lending and fivefold expansion in borrowers provide a clear indication that more Indian companies are making use of specialised financial channels linked to bilateral commerce.
As trade between India and Russia becomes increasingly diversified, the development of banking, payment and export-finance infrastructure is creating a stronger foundation for companies dealing in manufactured and higher-value products.
References
Sberbank — “For the year, Indian companies received four times more financing in SberIndia”, official press release, October 1, 2026.
https://www.sberbank.com
Sberbank Russia — Official corporate website.
https://www.sberbank.ru
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