However, the doses of the vaccine that will be made in India are expected to be cheaper.
"Further consignments of imported doses are expected over the upcoming months. Subsequently, supply of the Sputnik V vaccine will commence from Indian manufacturing partners," said Dr Reddy's.
The company said it is working closely with its six manufacturing partners to fulfil regulatory requirements to ensure a smooth and timely supply.
The first dose of the vaccine was also administered in Hyderabad on Friday as part of a limited pilot and soft launch of Sputnik V in India.
The vaccine is likely to be available in the market from next week, the Centre had said on Thursday amid various states facing an acute shortage.
"I'm happy to say that we're hopeful that it'll be available in the market next week. We're hopeful that the sale of the limited supply that has come from there (Russia), will begin next week," Niti Aayog VK Paul said.
The country is looking to produce 15.6 crore doses of the Russian Covid vaccine.
"Its production will begin in July and it is estimated that 15.6 crore doses will be manufactured in that period," Paul said.
The first consignment of imported doses of the Sputnik V vaccine had landed in India on 1 May.
It is the third vaccine India has given go-ahead to after 'Covishield', developed by Oxford University and AstraZeneca and 'Covaxin', the indigenous vaccine manufactured by Bharat Biotech. Covishield is manufactured by Serum Institute of India.
With an efficacy of 91.6%, Sputnik V was the first vaccine against coronavirus in the world. Clinical trial data published in The Lancet indicated that the Covid-19 vaccine "appears safe and effective".
More than 60 countries had registered Sputnik V for emergency use and most of these countries had already received the first batch of the vaccine.
Russia has been actively marketing Sputnik V abroad despite the comparatively slow rollout at home and limited production capacities, according to reports.
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