Alexander Vedyakhin, Sberbank: 'Workers From India Are A Strong Strategic Resource For Russia'

According to expert forecasts, Russia will face a shortage of more than 3 million workers by 2030. India, with a population of 1.4 billion and 18 million citizens abroad, is becoming the primary supplier of personnel. Today, Russia's Sberbank has not only created a turnkey recruitment platform but has also begun systematic work with Russia's largest state-owned companies. On the sidelines of the Eastern Economic Forum (EEF-2026), Alexander Vedyakhin, First Deputy Chairman of the Executive Board of Sberbank, spoke about why the labor market requires a technological approach. 

You have said on multiple occasions that India is the key to business sustainability under sanctions. What new challenges do you see in this area today? 

One of the main challenges today is personnel. Russia is projected to face a shortage of more than 3 million people by 2030. India, with a population of over 1.4 billion, is the world's primary supplier of labor. We have approached this problem systematically by creating the market's first turnkey recruitment platform – from application submission to employee deployment at the worksite. This is a unified digital framework that is now being integrated with companies and government agencies. 

The platform addresses not only hiring but also employee socialization: we offer payroll cards, SIM cards, medical programs, biometrics, and fast money transfers. Over the past 12 months, the number of Indian users of money transfer services has grown by 90%. We believe that importing skilled labor from India is a genuine strategic resource for the growth of our economy. 

Alongside HR solutions, you are actively developing non-financial services for businesses. How does your cooperation with the "Made in Russia" project fit into your strategy, for example? 

Our Business Development service at SberIndia has been quite successful in helping Russian companies find Indian suppliers. We currently cover over 100 focus categories and more than 10,000 suppliers. Through our collaboration with the "Made in Russia" project, we are strengthening support for Russian exporters. This is not just about trade; it is about creating joint ventures. We are seeing growing interest in Russian supplies in areas such as mechanical engineering, industrial equipment, and even highly processed food products. The Indian market is ready to pay for quality and technology, not just raw materials. 

What do you expect from the upcoming Innoprom in Delhi? What messages will you convey to your Indian partners? 

We will continue the dialogue on "fine-tuning" the mechanisms. Despite excellent payment services, we see potential in reducing tariffs and synchronizing technological requirements. Our goal is for businesses to perceive Russia and India not as "far abroad" but as a unified economic belt.

Published on: Wednesday, September 02, 2026, 08:19 PM IST