Indian Russian economic relationship is one of the most strategic and long-term relations in the world arena. The Russian businesses in India have developed a strong base in various industries, which has resulted in a multibillion-dollar trade system that remains strong in the face of international uncertainties. Such Russian corporations in India are energy giants with refineries in their possession, defence contractors providing the latest technology, etc.
The bilateral trade has hit a new high by achieving a figure of $65.70 billion in FY 2023-24, which shows the strength and thoroughness of this association. When we enter the year 2026, Russian Companies in India in additional sectors beyond the conventional ones to include technology, pharmaceutical, and infrastructure, and this is a new era in Indo-Russian business cooperation.
Overview of India-Russia Economic and Strategic Relations
The two countries, India and Russia, have had a long-standing relationship that is founded on mutual respect and strategic interests. This association is beyond business transactions and involves some co-operation in defence relations, nuclear energy and technological sharing.
The relationship between the two countries dates back to Soviet times, though historically, Russia has been the largest defence ally to India. The trade relations have been thriving, especially since 2022, when India became a major importer of Russian crude oil. The two countries have been actively involved in BRICS and other multilateral forums, and this has enhanced their strategic agreement on global matters.
Why Russian Companies Operate in India
- Huge consumer base: it has a huge consumer base of over 1.4 billion with unprecedented growth opportunities.
- Strategic defense alliance: demand technologies transfer and joint venture over the long run.
- Cooperation in energy security: as India is interested in diversification of energy sources, and Russia wants to find some other buyers.
- Low cost of operation: availability of skilled labor force and cheap cost of manufacturing.
- Geopolitical identification: both countries are seeking a multipolar world order and strategic autonomy.
- Investment-friendly policies: within initiatives such as Make in India, efforts to encourage foreign manufacturing.
Key Sectors: Energy, Defence, IT, Metals, Pharmaceuticals
Russian companies in India are focused on their operations in five strategic areas.
- Energy Sector: It is the leading sector with enormous investments by Rosneft, Gazprom, and Rosatom in oil refining, gas supply and nuclear power production.
- Defense Sector: is the basis of the bilateral collaboration, and such companies as Rostec, Almaz-Antey, and BrahMos Aerospace are the providers of high technology and weaponry.
- IT Sector: the witnesses are increasing their Russian activity with cybersecurity companies such as Kaspersky and tech companies seeking software talent in India.
- Metals and mining: other businesses such as Alrosa, Norilsk Nickel and Rusal are among the exports to Indian markets.
- Pharmaceutical Sector: more Russian investment in production plants being drawn to the Indian production capacities.
Overview of Russian Business Presence in India – 2026 Insights
As of 2026, Russian Companies in India have not only diversified their presence by going beyond the traditional government-to-government business transactions but also adopted partnerships with the private sector. Large Russian companies are now able to interact with Indian privates directly and it has been a strategic business shift. Sberbank has created IT operations at Bengaluru, whereas Sistema is searching in retail.
There has also been increased investment in infrastructure projects and it has been observed that Russian Railways are interested in modernising the Indian railways. The energy division will continue to take the lead with the $20 billion dollar investment by Rosneft in Nayara Energy being the biggest Russian investment in India. The bilateral trade remains thriving despite the international sanctions in the form of alternative payment system and a rupee-ruble trade system.
Top 20 Russian Companies in India (Sector-Wise Overview)
1. Rosneft
- Industry/Sector: Oil & Gas / Energy
- Type of Presence in India: Joint Venture through Nayara Energy (49.13% stake)
- Website: www.rosneft.com
- HQ in India: Vadinar, Gujarat (through Nayara Energy)
Rosneft, the biggest Russian oil company and one of the largest petroleum corporations in the world, is among the top Russian companies in India and made its largest Indian acquisition by acquiring a major stake in Nayara Energy. Through this investment, it owns the second-largest single-location refinery in India at Vadinar, with a capacity of 20 million tonnes per year. The company also operates more than 6,600 retail stores across India, making it a leading player in the fuel distribution industry.
Key Products/Services:
- Crude oil supply
- Refined petroleum products
- Retail fuel stations
- Refinery operations
Why the Company Is Important: The investment of 20 billion dollars by Rosneft is the biggest Russian investment in India and bolsters energy security in both countries.
2. Gazprom
- Industry/Sector: Natural Gas / Energy
- Type of Presence in India: Long-term Supply Agreement with GAIL
- Website: https://www.gazprom.com/
- HQ in India: Representative Office, New Delhi
In 2012, Gazprom, the largest natural gas company in the world, entered the Indian market and became one of the Russian companies operating in India by signing a historic 20-year LNG supply agreement with the Gas Authority of India Limited (GAIL). Under this deal, Gazprom supplies 2.5 million tonnes of LNG annually to India, playing a significant role in diversifying the country’s energy sources. Gazprom is also associated with Engineers India Limited on pipeline infrastructure projects, strengthening energy cooperation between Russia and India.
Key Products/Services:
- Liquefied Natural Gas
- Infrastructure projects Pipeline infrastructure projects
- Gas exploration services
- Energy consulting
Why the Company Is Important: Long term LNG supply by Gazprom is the guarantee of energy security of India and the transition to cleaner fuels.
3. Lukoil
- Industry/Sector: Oil & Gas
- Type of Presence in India: Trade and Export Operations
- Website: www.lukoil.com
- HQ in India: Limited direct presence, operates through trading channels
Lukoil being the second largest Russian oil firm has trading relations with Indian refineries and petrochemical firms. The company has no significant operating assets in India, but it exports crude oil and petroleum products into the Indian market. Lukoil finds opportunities of more involved participation in the energy industry of India by the means of possible joint ventures and technology collaboration.
Key Products/Services:
- Crude oil exports
- Petroleum products trading
- Refining technology
- Exploration expertise
Why the Company Is Important: Lukoil offers the Indian market more crude oil sources to satisfy the increasing refinery capacity.
4. Rosatom
- Industry/Sector: Nuclear Energy
- Type of Presence in India: Construction and Operation of Nuclear Power Plants
- Website: www.rosatom.ru
- HQ in India: Project Office, Kudankulam, Tamil Nadu
Rosatom, the state nuclear energy corporation of Russia, is among the Russian companies in India that have played a significant role in developing the country’s largest nuclear power plant at Kudankulam. Units 1 and 2 were built by Rosatom using VVER-1000 reactors, and the company is currently constructing Units 3–6. Rosatom also supplies nuclear fuel and provides technical expertise for reactor maintenance. This collaboration extends to the development of small modular reactors as part of India’s long-term nuclear energy strategy.
Key Products/Services:
- The construction of nuclear reactors.
- Nuclear fuel supply
- Technical support services
- Small modular reactors
Why the Company Is Important: Rosatom facilitates the expansion of nuclear energy capacity in India that is imperative in ensuring clean energy goals.
5. Rostec
- Industry/Sector: Defense & Technology
- Type of Presence in India: Defense Equipment Supply and Technology Transfer
- Website: www.rostec.ru
- HQ in India: Representative Office, New Delhi
Rostec Corporation, which is a state-owned Russian defense and technology conglomerate, is the one that organizes different defense equipment deals with India such as helicopters, missiles, and military aircraft. The company comprises various military industry businesses such as Sukhoi and the producers of other military technology. Rostec is proactively engaged in joint venture with Indian defense business through Make in India initiative.
Key Products/Services:
- Military aircraft systems
- Helicopter platforms
- Defense electronics
- Transfer programs in technology.
Why the Company Is Important: Rostec is the heart of the India-Russia defense relationship, providing national security with essential military equipment.
6. Sukhoi
- Industry/Sector: Aerospace & Defense
- Type of Presence in India: Licensed Production and Maintenance
- Website: https://uacrussia.ru/en/
- HQ in India: Operates through HAL collaboration
Sukhoi Aviation Corporation, an arm of the United Aircraft Corporation, is one of the Russian companies operating in India that has significantly strengthened India’s air power through the Su-30MKI fighter jets produced by Hindustan Aeronautics Limited under license. The Indian Air Force operates more than 270 Su-30MKI aircraft, making them the backbone of its combat fleet. Sukhoi also provides continuous technical support, upgrade packages, and maintenance services to ensure these advanced multi-role fighters remain mission-ready.
Key Products/Services:
- Su-30MKI fighter jets
- Upgrade kits packages
- Other maintenance support services.
- Spare parts supply
Why the Company Is Important: Sukhoi aircrafts are the mainstay of Indian air defense production that have been produced in-house.
7. Almaz-Antey
- Industry/Sector: Air Defence Systems
- Type of Presence in India: Defence Equipment Supply
- Website: www.almaz-antey.ru
- HQ in India: Works through government channels
Almaz-Antey Air Defence Concern, a leading Russian defense firm, is among the Russian companies in India supplying advanced air defence systems. The company manufactures the S-400 Triumf system, which India has acquired to strengthen its air defense capabilities. Almaz-Antey’s missile and radar systems help secure critical installations and infrastructure across the country.
Key Products/Services:
- S-400 missile systems
- Air defense radars
- Command control systems
- Training courses on technology.
Why the Company Is Important: Almaz-Antey S-400 will furnish India with the latest air defense system against aerial attacks in the whole world.
8. Kaspersky
- Industry/Sector: Cybersecurity / IT
- Type of Presence in India: Subsidiary Operations
- Website: www.kaspersky.co.in
- HQ in India: Navi Mumbai, Maharashtra
Kaspersky Lab India Private Limited is a cybersecurity division that offers all-encompassing security services to businesses and individual consumers in terms of digital protection. The company provides antivirus software, endpoint security, threat intelligence and cybersecurity consulting services which were founded in India since the year 2010. Kaspersky is a provider of security against emerging cyber threats to Indian companies, government bodies, and millions of retail customers.
Key Products/Services:
- Antivirus software solutions.
- Endpoint security systems
- Intelligence services on threats.
- Cybersecurity consulting
Why the Company Is Important: Kaspersky secures the Indian digital infrastructure against advanced cyberattacks and malware.
9. Yandex
- Industry/Sector: Internet Technology
- Type of Presence in India: Limited direct operations, investment activities
- Website: www.yandex.com
- HQ in India: No major operational headquarters
Yandex, the market leader in the Russian internet sector—often called the Google of Russia—is one of the Russian companies in India exploring opportunities in the country’s growing digital economy. While it does not yet have a major operational presence, Yandex’s investment units have shown interest in Indian startups and technology projects. Its expertise in search engines, artificial intelligence, and cloud services positions the company for future growth in the Indian market.
Key Products/Services:
- Search engine technology
- Cloud computing services
- Artificial intelligence solutions.
- Investment in startups
Why the Company Is Important: Yandex is a symbol of Russian technological power and a possible investment in the Indian startup market.
10. ABBYY
- Industry/Sector: Software / AI
- Type of Presence in India: Sales and Partner Network
- Website: www.abbyy.com
- HQ in India: Partner-based presence
ABBYY is a world leader in intelligent document processing and data capture software that is provided to global businesses through the network of partners in India. The Indian businesses can digitize processes with the help of optical character recognition technology, intelligent automation solutions, and document processing platforms of the company. ABBYY solutions are especially widely used in the banking, insurance, healthcare, and logistics sectors that are able to undergo the digital transformation.
Key Products/Services:
- OCR technology solutions
- Processing of documents automation.
- Intelligent data capture
- Process mining tools
Why the Company Is Important: ABBYY paces up the Indian dynamic towards digitisation with the help of technologies for automating document processing and AI.
11. Sberbank
- Industry/Sector: Banking & Financial Services
- Type of Presence in India: Branch Operations and IT Centers
- Website: www.sberbank.com
- HQ in India: Bengaluru (IT Operations)
Sberbank, the largest bank in Russia and one of the biggest European banking organisations, is among the Russian companies operating in India and has expanded its presence beyond conventional banking by establishing IT development centres. To leverage India’s software development and digital banking talent, the bank set up operations in Bengaluru. Sberbank provides corporate banking, trade finance, and investment banking services to support Russian-Indian business transactions.
Key Products/Services:
- Corporate banking services
- Trade finance solutions
- IT development services
- Investment banking
Why the Company Is Important: Sberbank promotes bilateral trade and investments and employs technology jobs in India.
12. VTB Bank
- Industry/Sector: Banking & Financial Services
- Type of Presence in India: Branch Operations
- Website: www.vtb.com
- HQ in India: New Delhi (Taj Mahal Hotel branch)
In 2008, VTB Bank, Russia, the second-largest financial institution, began operations in India as a specialized bank service offering to corporate customers. The bank specializes in making trade between Russia and India easy, offering credit facilities in exporting and importing goods, documentary credit, and working capital loans. VTB has funded significant transactions such as the acquisition of Essar Oil by Rosneft, a move that shows that it is willing to help with bilateral investments.
Key Products/Services:
- Company lending departments.
- Trade finance services
- Export-import financing
- Investment advisory
Why the Company Is Important: VTB Bank allows making significant bilateral investments and provides important trade funds to the Indo-Russian business.
13. Alrosa
- Industry/Sector: Diamond Mining
- Type of Presence in India: Representative Office and Trading
- Website: www.alrosa.ru
- HQ in India: Mumbai (Representative Office at Bharat Diamond Bourse)
Alrosa, the largest diamond mining organization in the world by volume, is one of the Russian companies in India and established its representative office in Mumbai due to India’s position as the global hub for diamond cutting and polishing. The company supplies unprocessed diamonds to Indian producers, who refine them for international markets. With India processing about 90% of the world’s diamonds, it is a strategic market for Alrosa’s production and distribution goals.
Key Products/Services:
- Rough diamond supply
- Diamond trading services
- Market intelligence
- Logistics support
Why the Company Is Important: Alrosa provides key raw materials to the diamond processing sector of India worth 23 billion.
14. Norilsk Nickel
- Industry/Sector: Mining & Metals
- Type of Presence in India: Export and Trading Operations
- Website: www.nornickel.com
- HQ in India: Trading presence through agents
Norilsk Nickel (Nornickel), the largest refined nickel producer and top provider of palladium in the world, sells its metals to the manufacturing industry of India. The products of Nornickel are employed in Indian industries in production of stainless steel, automotive, electronics and chemical industries. The company examines the possibility of having a more in-depth involvement with the Indian partners in a long-term supply agreement to facilitate growth in the manufacture of India.
Key Products/Services:
- Refined nickel supply
- Palladium exports
- Copper products
- Cobalt materials
Why the Company Is Important: Nornickel is a supplier of the necessary metals that the manufacturing and industrial sector in India uses.
15. Rusal
- Industry/Sector: Aluminum Production
- Type of Presence in India: Export Operations
- Website: www.rusal.ru
- HQ in India: Market presence through distributors
Rusal, the largest aluminum producer in the world outside China, is among the Russian companies in India supplying aluminum products to industries such as automotive, construction, packaging, and electrical sectors. India’s growing infrastructure and automotive industries create strong demand for aluminum. Rusal maintains trading relationships with key consumers in India and is exploring opportunities to establish processing plants in the country.
Key Products/Services:
- Primary aluminum supply
- Aluminum alloys
- Value-added products
- Technical support
Why the Company Is Important: Rusal could satisfy the increasing demand of the aluminum industry in India towards infrastructure and manufacturing development.
16. PhosAgro
- Industry/Sector: Fertilizers & Chemicals
- Type of Presence in India: Export Operations
- Website: www.phosagro.ru
- HQ in India: Export channels and distributors
PhosAgro is among the largest producers of fertilizers in Russia and is an exporter of the fertilizers that contain phosphates to the Indian agricultural industry. Indian agriculture relies much on imports of fertilizers to sustain crop production and food security. The products of PhosAgro are good fertilizers that help Indian farmers to record high outputs. The company pursues collaborations with distributors in India to access more markets in agricultural areas.
Key Products/Services:
- Phosphate fertilizers
- NPK complexes
- Specialty nutrients
- Agricultural solutions
Why the Company Is Important: PhosAgro helps in maintaining agricultural productivity and food security of India by providing the necessary supplies of fertilizers.
17. Uralkali
- Industry/Sector: Fertilizers (Potash)
- Type of Presence in India: Export Market
- Website: www.uralkali.com
- HQ in India: Market presence through trading agents
Uralkali, one of the largest producers of potash fertilizer, is among the Russian companies in India supplying potassium-based fertilizers crucial for Indian agriculture. India is one of Uralkali’s leading export markets, alongside Brazil and China. Potash fertilizers improve crop quality, disease resistance, and soil water retention, which are essential for India’s farming conditions. The company works closely with Indian farmers to ensure a steady supply of fertilizers across the country.
Key Products/Services:
- Potash fertilizers (MOP)
- Standard grade potash
- Granular potash
- Bulk supply logistics
Why the Company Is Important: Uralkali is a source of necessary potash fertilizers that helps in the agricultural production and income of the farmers in India.
18. Russian Railways (RZD)
- Industry/Sector: Railways & Transportation
- Type of Presence in India: Project Consultancy and Technology Transfer
- Website: https://eng.rzd.ru/
- HQ in India: Project-based presence
Russian Railways (RZD), which is among the largest railway operators in the world also solicits the cooperation of the Indian Railways in terms of technology transfer, development of high-speed rail, and modernisation of railway infrastructure. RZD has experience in running railways with varying climatic conditions, cargo logistics and passengers. Joint ventures in electrification of Indian railways, signaling systems, and manufacturing of rolling stock are ventures that the company is exploring.
Key Products/Services:
- Transfer of Railway technology.
- Infrastructure consulting
- High-speed rail expertise
- Logistics solutions
Why the Company Is Important: RZD has the expertise that can be used to boost the modernization and development of the railway infrastructure in India.
19. United Confectioners
- Industry/Sector: Food & Confectionery
- Type of Presence in India: Export Market
- Website: www.uniconf.ru
- HQ in India: Distribution partners
United Confectioners is a major Russian confectionary company, which sells high quality chocolates, candies, and sweets to the Indian markets. Products of the company meet the needs of the increasing middle class in India who have an ever-expanding consumption of global confectionery brands. United Confectioners has used distribution channels and retail alliances to increase its markets in metropolitan cities and low end urban centres.
Key Products/Services:
- Chocolate products
- Candy assortments
- Premium confectionery
- Seasonal specialties
Why the Company Is Important: United Confectioners is an enterprise that introduces the traditions of Russian confectionery to Indian buyers, expanding market options.
20. Aeroflot
- Industry/Sector: Aviation
- Type of Presence in India: Flight Operations and Services
- Website: https://www.aeroflot.ru/us-en
- HQ in India: Airport offices in major cities
Aeroflot, the flagship airline in Russia and one of the oldest airlines in the world, can also help to connect India with Russia and provides direct flight services between Moscow and other countries. The airline supports business travel, tourism and transportation of cargo between the two countries. Even though certain sanctions by the international community have disrupted certain routes, Aeroflot ensures connectivity that facilitates people-to-people, trade, and cultural collaboration between Russia and India.
Key Products/Services:
- International air transportation.
- Air cargo delivery services.
- Transit connections
- Travel packages
Why the Company Is Important: Aeroflot offers critical air connectivity between India and Russia in bilateral trade and tourism.
What Is the Biggest Russian Company?
Rosneft is the most revenue-generating company in Russia, as well as the largest Russian corporate presence in India. Rosneft controls the Russian oil and gas industry, boasting a market capitalization of more than $60 billion and a yearly income of more than $100 billion.
The role of Rosneft is further accentuated in the Indian case where its company has a mammoth investment of $20 billion in Nayara Energy that runs the Vadinar refinery and has a network of 6,600 retail outlets distributing fuel in India. This investment not only makes Rosneft the largest Russian enterprise in the world, but the most invested foreign Russian enterprise in the energy industry of India, which shows the value both countries have on energy relations and long-term collaboration.
How Many Russian Companies Are There in India?
- Major corporations: There are more than 50 large Russian firms that have been operating actively in terms of different business models.
- Defense contractors: There are some 15-20 Russian defense companies that provide equipment and technology to the Indian armed forces.
- Players in the energy sector: There are at least 10 large Russian firms that deal with oil, gas and nuclear power firms.
- Banking institutions: There are several Russian banks such as Sberbank and VTB with branches offering financial services.
- IT and technology companies: More and more Russian IT companies are developing centers and services.
- Trading firms: There are hundreds of small Russian trading firms, which run in the form of partnerships and distributorships in various sectors.
Challenges & Opportunities for Russian Companies in India
- Complexity of sanctions: Global sanctions imposed on Russian organizations present a problem of payment and transactions that need alternative settlement arrangements.
- Rivalry: Russian businesses are highly competed by Western and Chinese and Indian businesses in the majority of the industries.
- Regulatory navigation: Russian business finds it difficult to know various Indian laws, regulations and bureaucracies and how to comply with them.
- Geopolitical benefits: Intensification of bilateral relations and strategic independence establishes a good climate of Russian companies in India.
- Market size: India has a large consumer base and a rising middle class with opportunities of expansion that have never been seen before in any industry.
- Technology cooperation: Growing interest in collaborative research, development and transfer of technology brings win-win cooperation between the two countries.
Conclusion
Russian companies in India are indicative of a mature relationship that is multifaceted and has endured global uncertainty and geopolitical changes. Rosneft with its huge energy infrastructure, Rosatom with its nuclear power plants, BrahMos missiles, and even Kaspersky cybersecurity, Russian businesses in India have a presence in all major spheres of strategic interest.
The bilateral trade of $65.70 billion exhibits the economic richness of this relationship which has still been extending to new spheres of bilateral relations such as IT services, pharmaceuticals and construction of infrastructures. In the future, 2026 and beyond, Russian firms in India will be in a good position to take advantage of the growth prospect of India and even offer technology, resources, and expertise that may aid in the developmental trends of India.
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FAQs
The question is which Russian firm is the biggest investor in India?
Rosneft has the honor of being the biggest Russian investor in India with an approximate investment of $20 billion in Nayara Energy, which owns the Vadinar refinery and large retail fuel network with 49.13% share.
Do we have Russian banks in IIndia?
Yes, there is active operation of Sberbank and VTB Bank in India. VTB Bank has its branch in New Delhi in Taj Mahal Hotel, whereas Sberbank has increased its operations in IT in Bengaluru to the observable range of banking operations.
What is BrahMos Aerospace and why is it important?
BrahMos Aerospace is a special Indo-Russian partnership between DRDO and NPO Mashinostroyenia that manufactures supersonic cruise missiles. It is an effective defense technology relationship that involves both Russian ramjet technology and Indian guidance systems.
What are the strategies used by Russian firms to deal with international sanctions in India?
Russian companies in India have avoided sanctions by using rupee-ruble trade systems, other methods of payment and also using the policy of strategic autonomy that India has in its foreign policy even in the face of Western pressure.
Which industries have the most potential in India to Russian companies?
The most promising opportunities are energy, defense, nuclear power, pharmaceuticals manufacturing, IT services, and infrastructure development. The expanding economy, source of talent in technology, and strategic alliance with Russia makes India a good place to expand.
