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What is the story about?
Sberbank, Russia’s largest bank, has launched a new mutual fund allowing Russian retail investors to participate directly in India’s stock market.
The fund, named First-India, has been introduced in partnership with JSC First Asset Management and is benchmarked to India’s flagship equity index, the Nifty50.
The announcement was made during Sberbank CEO and Chairman Herman Gref’s business visit to India at an event held at the National Stock Exchange of India (NSE), the bourse said in a statement.
The First-India fund offers Russian investors a simple route to gain exposure to the performance of the Nifty50 Index, which tracks 50 of India’s largest and most liquid companies across 15 sectors.
The Nifty50, launched in 1996, is one of the most widely tracked equity indices globally and will mark its 30th anniversary in April 2026. In India alone, more than 45 passive investment products follow the Nifty50, while 22 similar funds operate internationally.
NSE Managing Director and CEO Ashishkumar Chauhan said," We are pleased to support Sberbank in launching Nifty50-linked investment solutions that strengthen capital flows and open India’s equity growth to Russian investors through a trusted benchmark".
Chauhan added that the NSE is committed to enhancing connectivity, ensuring regulatory standards, and expanding liquidity and transparency for such cross-border products.
Sberbank’s Herman Gref said that the initiative opens a new avenue for Russian investors seeking international diversification.
"We are opening another window of investment opportunities for our Russian clients, this time to South Asia. Until now, no straightforward options existed for Russian investors seeking personal investments in Indian assets. We have created a new and efficient financial bridge between the two countries," he added.
This announcement comes at a time when Russian President Vladimir Putin began his two-day India visit on Thursday.
Putin’s visit is aimed at strengthening India-Russia strategic and economic cooperation, advancing long-pending defence and energy agreements, and reaffirming the countries’ longstanding partnership at a time when shifting geopolitical dynamics, including recent strains in India-US relations, have added urgency to bilateral engagement.
The fund, named First-India, has been introduced in partnership with JSC First Asset Management and is benchmarked to India’s flagship equity index, the Nifty50.
The announcement was made during Sberbank CEO and Chairman Herman Gref’s business visit to India at an event held at the National Stock Exchange of India (NSE), the bourse said in a statement.
The First-India fund offers Russian investors a simple route to gain exposure to the performance of the Nifty50 Index, which tracks 50 of India’s largest and most liquid companies across 15 sectors.
The Nifty50, launched in 1996, is one of the most widely tracked equity indices globally and will mark its 30th anniversary in April 2026. In India alone, more than 45 passive investment products follow the Nifty50, while 22 similar funds operate internationally.
NSE Managing Director and CEO Ashishkumar Chauhan said," We are pleased to support Sberbank in launching Nifty50-linked investment solutions that strengthen capital flows and open India’s equity growth to Russian investors through a trusted benchmark".
Chauhan added that the NSE is committed to enhancing connectivity, ensuring regulatory standards, and expanding liquidity and transparency for such cross-border products.
Sberbank’s Herman Gref said that the initiative opens a new avenue for Russian investors seeking international diversification.
"We are opening another window of investment opportunities for our Russian clients, this time to South Asia. Until now, no straightforward options existed for Russian investors seeking personal investments in Indian assets. We have created a new and efficient financial bridge between the two countries," he added.
This announcement comes at a time when Russian President Vladimir Putin began his two-day India visit on Thursday.
Putin’s visit is aimed at strengthening India-Russia strategic and economic cooperation, advancing long-pending defence and energy agreements, and reaffirming the countries’ longstanding partnership at a time when shifting geopolitical dynamics, including recent strains in India-US relations, have added urgency to bilateral engagement.
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