But a small handful of Indian companies with substantial exposure to Western markets have stopped doing business with Russia.
"We have a small team of less than 100 employees based in Russia, which service a few of our global clients," said Mr Salil Parekh, Infosys' chief executive officer & managing director during a conference call on April 13. India has taken a neutral position on the Ukraine war, refusing to explicitly condemn Russia, an important defence partner.
The construction of state run NTPC's 2000 megawatt thermal power project in Bihar state has been affected given the involvement of"Russian entities", power minister Raj Kumar Singh told Parliament. Prof Biswajit Dhar, a trade expert from Jawaharlal Nehru University, said that companies with large exposure to the US in particular would try and withdraw from Russia.