Nissan's passenger vehicles sales in India fell 24 percent to 19,563 in the six months from April to September, compared with the same period an year ago, giving it a 1.5 percent share of the market, industry data showed.

India is forecast to become the world's third-largest car market by 2020.

The slowdown in India sales has forced Nissan and its global carmaking alliance partner Renault SA to cut several hundred jobs in the country and reduce production at its plant near Chennai, in the country's south.

ICC is cricket's world governing body and India is a key member and its biggest revenue contributor. The deal, whose value was not given, runs through 2023 and confirms Nissan as a sponsor of cricket's international tournaments.

"We have a long term view in India... we want to grow India to at least a 5 percent market share over time," said Roel de Vries, global head of marketing and brand strategy at Nissan.

"Cricket itself will not do this. But cricket together with the dealers, good customer satisfaction and with good products gives us a very good chance," he said. Nissan spends about 5 percent of its marketing budget on sponsoring sports events.

Nissan's decision comes amid media reports that PepsiCo wants to end its title sponsorship of the scandal-hit Indian Premier League (IPL), one of the world's richest sports leagues with $3.5 billion estimated brand value.