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5 Dec, 2008 06:34

India in focus as Sberbank does the hard yards

India will sign up for its first third-generation nuclear reactors from Russia this week.

President Medvedev will pen the contract to build 4 new power plants on his inaugural visit to Delhi on Friday.

The Tamil Nadu project comes on top of Tuesday's purchase of EIGHTY Mi-17s, the main troop-mover for the Indian army.

Meanwhile, Russia and East Europe's biggest bank Sberbank is trying to start up on its own in India.

Vice-President, Denis Bugrov, told Business RT it's not easy working within the South Asian nation, and the global economic crisis has made bilateral trade even tougher.

“We're opening, we have opened a branch in India, we are working on one in China, and these will be greenfield start-ups.

We recognise that  turning Sberbank into a much more internationally present financial institution will take a considerable amount of time and effort, what is happening right now in the markets is an important factor in how we think about this.”

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