France, July 1 -- Indian retail firms arein talks thatcould see themmove into the Russian market through local franchises. The announcement came as Nike joined a growing list of Western companies exiting the Communist state following US-led sanctions intended to isolate Moscow.

Russian President Vladimir Putin gave no details of ongoing negotiations with Indian supermarkets.

"Contacts between Russian interests and the business community of the BRICS countries are being activated," Putin told a business forum. The BRICS nations areBrazil, Russia, India, China and South Africa.

Moscow, Putinadded, was also in the process of funnelling food and oil exports to emerging markets, including India.

"There has been a noticeable increase in exp...