NEW DELHI, May 17. /TASS/. The Russian market is promising for Indian car manufacturers, Director General and CEO of the Federation of Indian Export Organizations (FIEO) Dr Ajay Sahai told TASS on Wednesday.

"Indian companies are exporting cars globally. But that's a call which individual companies have to take, producers should analyze and decide. All that we can tell them is that it’s a huge market in Russia. The market is waiting for you. If you want to jump into the market, this is the right time," he said. According to him, making left-hand drive cars for Russian buyers is not a problem. "All companies are doing it, otherwise they won’t be in the global market," he said.

"So far, we have not been aggressive in this market because the market was already occupied by the multinational companies. Now the multinational companies have vacated, the market is available," he noted.

During his visit to New Delhi in April, Russia's Deputy Prime Minister and Minister of Industry and Trade Denis Manturov said that Russia was ready to negotiate supplies of Indian cars to the country. However, he noted that no official proposals had been received.

Between April 2022 and February 2023, the trade turnover between Russia and India reached approximately $45 bln.