French Formula One team Renault, which will lose its current sponsor Dutch financial services entity ING by the end this season, is in talks with an Indian multinational for sponsorship.
The team, which is looking to widen its fan base in India is also considering bringing F1 double world champion Fernando Alonso this year during the peak season.
"Currently, talks are on with a major Indian multinational for sponsorship," a senior official of Renault India told PTI.
The official, however, declined to disclose details stating negotiations "are still ongoing".
ING had announced that it will not extend its three-year sponsorship deal with Renault beyond the 2009 season, which kicks off with the Australian grand prix on March 29.
India's biggest software firm Tata Consultancy Services had signed a technology and marketing partnership with Ferrari in December last year, which will see the TCS logo displayed on the Italian giant's 2009 F1 car.
As part of activities to popularise itself in the country, the team is planning to organise a roadshow during the peak F1 season this year.
"Hopefully Fernando Alonso will also be in New Delhi," the official said. Last November the team had flown in its second driver Nelson Piquet for a roadshow.
This time around the company is considering a separate location instead of Rajpath, the official added.