OREANDA-NEWS  Indian and Russian companies can create joint car production in the Russian Federation. Ajay Sahai, General and Chief Executive Officer of FIEO (Federation of Indian Export Organizations), admitted such a variant of the development of Russian-Indian economic relations in an interview with TASS.

The head of the organization allowed the appearance of Indian automakers on the Russian market, calling such a development "absolutely possible." According to him, the advantage of Indian investments in an automobile plant in the territory of the Russian Federation is that both markets will be open for the company's products.

At the moment, most of the automotive industries operating in India are multinational companies, Sahai recalled. Therefore, when working on a joint venture in Russia, it is important to take into account what restrictions apply to technology transfer, he stressed.

According to Rosstat, 330 thousand passenger cars were produced in Russia from January to June 2024. If compared with the same period last year, the growth over the six months amounted to 62.2 percent. In June, 63 thousand cars rolled off the assembly lines. This is almost 46 percent more than a year ago.