Ready to be competence centre for Indian, Russian exporters: Sber

Russian bank Sber is ready to become a competence centre for exporters from Russia as well as India, according to a senior official.

PJSC Sberbank is Russia's largest bank and has been operating in India for more than 10 years.

Sberbank's Senior Vice-President Vladimir Sitnov said it has been supporting entrepreneurs engaged in foreign economic activity by carrying out settlements in national currencies.

''Sber is ready to become a competence centre for the opening and maintenance of enterprises, in particular, Indian companies in Russia and vice versa. We have a lot of expertise for this and all the necessary tools and products. We plan to help businesses find partners and improve their performance,'' Sitnov said in a statement on Friday.

Sitnov had also attended the third Indian-Russian Strategic Economic Dialogue (IRSED) meeting, which was held through video conferencing on April 15.

The meeting, which covered issues of effective cooperation between Russia and India in terms of export support, was chaired by Russia's Minister of Economic Development Maxim Reshetnikov and Niti Aayog Vice-Chairman Rajiv Kumar.

According to Sitnov, the pandemic contributed to the development of new cooperation and interaction channels.

One of the new formats is online business missions that Sber conducts so that Russian entrepreneurs can present their products and find reliable partners abroad interested in domestic goods, he added.