Varanasi: In a significant step towards strengthening Indo-Russian financial cooperation, Russia’s largest lender Sberbank, in partnership with JSC First Asset Management, has launched a new mutual fund titled “First–India.” The fund is directly linked to India’s benchmark index Nifty50 of the National Stock Exchange (NSE), offering Russian retail investors their first major gateway into India’s fast-growing equity market.
The fund was unveiled at a special event hosted at the NSE during Sberbank CEO and Executive Board Chairman Herman Gref’s visit to India. With this launch, Russian investors can now gain exposure to the performance of India’s top 50 companies—an opportunity previously unavailable in a simplified investment format.
Why Nifty50 Matters Globally
The Nifty50 index is among the world’s most closely watched equity benchmarks. Representing India’s economic engine, it comprises shares of 50 large, actively traded companies across 15 diverse sectors, from banking and IT to energy, pharmaceuticals, and consumer goods.
India currently hosts over 45 passive funds that track the Nifty50’s performance, while only 22 such passive funds exist outside India, underscoring the global demand and relevance of this index. First launched in 1996, the Nifty50 will mark its 30th anniversary on April 22, 2026, a milestone highlighting its long-standing credibility among global investors.
NSE Welcomes the Move
Ashish Kumar Chauhan, MD & CEO of the National Stock Exchange, expressed optimism about the collaboration.
“We are delighted to support Sberbank in launching investment solutions linked to the Nifty50, which will strengthen capital flows and open India’s equity growth to Russian investors through a trusted benchmark,” he said. Chauhan added that the initiative demonstrates global confidence in India’s markets while deepening financial ties between India and Russia.
He emphasized that NSE remains committed to enhancing market connectivity, ensuring regulatory integrity, safeguarding investor interests, and developing liquidity and transparency for such cross-border products.
Sberbank’s Vision for South Asia
Sberbank CEO Herman Gref described the launch as an important milestone in expanding Russia’s financial footprint in South Asia.
“As we move toward South Asia, we are creating new investment avenues for our clients. This product offers Russian investors an easy and reliable route into one of the world’s leading economic markets—the Indian stock market,” Gref said.
He pointed out that until now, Russian investors lacked convenient direct options for investing in Indian assets. With this new fund, Sberbank aims to build a robust financial bridge between the two nations, enabling smoother and broader investment participation.
A New Chapter in Indo-Russian Market Collaboration
The introduction of the First–India fund is expected to open the door for deeper bilateral financial engagement at a time when India’s equity markets continue to attract global interest for their resilience, liquidity, and long-term growth prospects. For Russia’s retail investors, it marks a new frontier—one that connects them to the dynamic growth story of India’s corporate giants.
The move also underscores a growing synergy between the two nations, extending their long-standing strategic partnership into the realm of market-linked financial products, with potential to spark greater investment flow and cooperation in the years ahead.
