"The parties intend to produce over 300 million doses of the vaccine in India per year with the first batch expected in September 2021," the Russian Direct Investment Fund (RDIF) said in a statement.
SII, the world's largest vaccine manufacturer by volume, has already received cell and vector samples from Russia's Gamaleya Centre, RDIF said.
"With their import approved by the Drug Controller General of India (DCGI), the cultivation process has begun," RDIF said in a statement.
India is the leading production hub for production of Sputnik vaccine. RDIF had earlier reached agreements with a number of pharmaceutical companies in India (Gland Pharma, Hetero Biopharma, Panacea Biotec, Stelis Biopharma, Virchow Biotech and Morepen) for production of the Russian vaccine.
"To date, Russian Sputnik V vaccine has been registered in 67 countries globally with a total population of over 3.5 bn people. The data obtained by regulators of a number of countries during the vaccination of the population, including in Argentina, Serbia, Bahrain, Hungary, Mexico, San Marino, UAE and others, demonstrates that Sputnik V is one of the safest and most effective vaccines against coronavirus," RDIF said.