The COVID-19 pandemic has claimed 1.3 million lives globally so far, but there is some hope now of a vaccine being made available early next year. Pfizer and Moderna have announced a 95 percent efficacy rate following phase three trials of their vaccine candidate.

Russia has said that its Sputnik V vaccine is proving to be 92 percent effective and President Vladimir Putin has suggested that India and China could start manufacturing the Sputnik V vaccine.

However, a preliminary report of the Sputnik V vaccine's efficacy rate is yet to be published in a peer reviewed medical journal. A consignment of the Sputnik V vaccine has arrived in India and trials is set to commence soon.

To discuss more about the Sputnik V vaccine, CNBC-TV18's Parikshit Luthra spoke to Kirill Dmitriev, CEO of Russian Direct Investment Fund (RDIF).

For more, watch the video.

(Edited by : Jerome Anthony)