The Datsun, an icon of a bygone era, is seeking to make a comeback with a launch in one of the fastest-growing markets in the world -- India.

On Tuesday at the New Delhi auto show, reportedly Asia's largest, the company's senior executives launched the diminutive hatchback, which will be available to Indian consumers later this year for a price well below 400,000 Indian rupees ($6,400), as the company aims to corner a significant chunk of the Indian auto market. The launch on Wednesday also showcased the Go+, a seven-seater van.

"Datsun intends to be half of Nissan Motor sales by FY-16," Vincent Cobee, the global head of Datsun, told International Business Times after the launch, adding: "Nissan Motor Company in total aims at 10 percent of the total Indian market."

The Go is aimed at the young, entry-level buyer in the Indian market with its bold D-shaped front grille, 15-inch alloy wheels and a bright lime green-colored body. 

The car will go into production next in Indonesia and the company is now looking for "potential export destinations" in other parts of the globe, Cobee said. The car's return to production was announced by Nissan (TYO:7201) CEO Carlos Ghosn in March 2012.

Speaking of the future of the Indian auto market, Cobee attributed the slump in 2013 to seasonal economic and market volatility. 

"If the basic macroeconomics are right, it will come back," he told IBTimes, adding: "Every growing economy is under tough pressure today but financial markets are improving, Western Europe and U.S. are improving. The world's ups and downs are very normal. This is not cancer, this is flu."