“Russia’s largest bank SBER, which offers the Nifty50 index to local Russians, is BIG. Russia has a significant surplus of rupees,” Chadha said.Chadha said NSE can use this as a template to connect with other BRICS countries, along with smaller countries in Africa, South America, Asia and even Australia and New Zealand.
“NSE can use this template and work with banks in other countries such as BRICS, smaller countries in Africa, South America, Asia and even Australia where we can reach an FTA in the coming months. This move has huge potential to access foreign private investors and unlock global capital for us…” said the Complete Circle MD & CIO.
In a press release issued by the NSE on Friday, the country’s largest stock exchange said SBER offers retail investors access to the Indian stock market benchmarked against the Nifty 50 index.
Sberbank and JSC First Asset Management have launched a new mutual fund – First-India – that offers investments linked to the performance of the Nifty 50 Index (NSEI) and provides Russian retail investors with direct exposure to the Indian stock market. The launch was announced at an event at the NSE by Herman Gref, CEO and Chairman of the Board of Directors of Sberbank, during his business visit to India.
The Nifty50 is one of the most followed equity indices among market participants worldwide. It includes 50 highly liquid, large capitalization stocks listed on the NSE, representing 15 different sectors of the Indian economy.
In India, there are more than 45 passive funds that track the Nifty 50, while another 22 passive funds outside India track the Nifty 50 index.
The Indian Heart Rate Index, launched in 1996, will celebrate its 30th anniversary on April 22, 2026.
Commenting on the development, Ashishkumar Chauhan, MD and CEO, NSE, said the exchange was keen to support Sberbank in launching Nifty 50-linked investment solutions, which he said will strengthen capital flows and open up India’s equity growth to Russian investors through a trusted benchmark.
“This initiative reflects strong confidence in Indian markets and deepens financial cooperation between India and Russia. NSE is committed to working with Sberbank to improve market connectivity, enforce regulatory and investor protection standards, and build liquidity and transparency for these products as we create new opportunities for investors in both countries,” he said.
Meanwhile, Sberbank’s Herman Gref said this move was a new window of investment opportunities for our Russian clients, but this time in South Asia.
“Our new product provides an easy way to gain exposure to one of the most important economic markets in the world – the Indian stock market. Until now, there were no easy options for Russian investors looking for personal investments in Indian assets. However, we have created a new and efficient financial bridge between the two countries,” he added.
(Disclaimer: The recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of The Economic Times.)
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