India has authorized the Sputnik V shot. Russia says this mean its COVID-19 vaccine is now approved for 40% of the world’s population.

• India has authorized Russia’s Sputnik V COVID-19 vaccine for use on its population.
• Russia says this means the vaccine has been approved for use in 40% of the world’s population.
• India is currently battling record cases of the coronavirus.
• See more stories on Insider’s business page.

India has authorized Russia’s Sputnik V COVID-19 vaccine.

The news was confirmed by the Russian Direct Investment Fund (RDIF), which is responsible for marketing the vaccine abroad, announced that India approved the vaccine for use.

The RDIF says this means that Sputnik V is now authorized for use for 3 billion people, or 40% of the world’s population. India’s population is the second largest in the world, with about 1.4 billion people.

India is already using two vaccines: the Oxford/AstraZeneca vaccine and another made by Indian firm Bharat Biotech.

Interim analysis of phase-3 data published in The Lancet in February found that Russia’s vaccine is 91.6% effective. Russia has been giving it to its population since December.

India’s coronavirus cases have been reaching record highs, and the country is looking to increase its vaccination rate as it battles a surge.