"I think, Russian automobile industry can develop their own cars within no time. And I think Russia will have much more better cars than Toyota company, if they pay attention and start manufacturing in Russia," the official said in an interview with Sputnik.
According to Kotwani, in the foreseeable future, Russian and Indian pharmaceutical companies will also be exporting products to Africa and South Asia.
The international North-South transport corridor has been the most important part of the future cooperation between India, Iran and Russia, and it will be launched "in full swing" in a couple of months, the official added.
On Tuesday, Russian Ambassador to India Denis Alipov noted the strength of bilateral ties with India, saying the positive dynamics of trade between the two countries will continue despite the Western sanctions against Moscow over its operation in Ukraine.