An Indian Pharma Firm Is Sending Nvidia Chips to Russia at War

Occupying the top three floors of an unremarkable office building in northern Mumbai, there’s little to distinguish Shreya Life Sciences from the many other commercial businesses that keep the Andheri neighborhood of India’s largest metropolis humming throughout the day.

But this inconspicuous pharmaceutical company is part of a lucrative trade in leading-edge technology to Russia that has the US and its European allies worried at India’s burgeoning role as an intermediary in the sales.

A Bloomberg News analysis of data compiled by trade-tracking firms ImportGenius and NBD shows that Shreya exported 1,111 units of Dell Technologies Inc.’s most-advanced servers to ...