Sberbank plans to recruit Indian migrants for construction projects in Russia

Sberbank is helping construction companies in Russia address labor shortages by recruiting migrant workers from India.

This was stated by the bank’s deputy chairman of the board, Anatoly Popov, who noted that, according to the Ministry of Labor, the construction industry’s need for personnel by 2030 amounts to nearly 800,000 people.

“Sberbank is offering what we believe to be a very effective solution—assistance primarily to builders, large developers, and contractors in securing labor resources from a market with a surplus of workers: the Indian market,” — Reuters quotes Popov as saying.

He added that the labor shortage is slowing down construction, so the bank will help bring in Indian workers and simplify the procedures for their entry.

“We believe this project has a bright future, as migrant workers from India are well-known in many countries and on numerous construction projects. It’s no secret that in the Gulf region as well, significant construction projects were carried out using labor from India. And, as we see it, this service will be in demand and is already in demand in the Russian market,” Popov said.

As of April 1, 2026, the volume of ongoing residential construction in Russia stood at 118.9 million square meters—a 4% increase from last year. At the same time, the growth is attributed to a slowdown in the commissioning of projects and the postponement of completion deadlines.

The Central Bank of Russia predicted that there would be fewer delays in housing delivery this year. At the same time, the industry is seeing a slowdown in the launch of new projects.

“The launch of new projects has slowed down, and the number of new projects fell by nearly 20% last year. Nevertheless, financing continues under existing credit lines and approved decisions, and projects are still being built,” Popov noted.

He also stated that Sberbank will continue to finance construction projects and plans to increase its loan portfolio for developers to 7.9–8 trillion rubles from approximately 7 trillion at the beginning of the year.

Separately, Popov reported on the bank’s active development in the Indian market and plans to expand its network.

“Our team is actively developing our business in the Indian market. While we currently have three operating branches—in New Delhi, Bangalore, and Mumbai—we plan to expand the network to 10 branches. We have considered the possibility of opening a large headquarters in New Delhi, where we also hope that Russian businesses operating in India will be actively represented,” he said.