Karthikeyan made a one-off race appearance for his inaugural home grand prix at the Buddh circuit, replacing Italian Vitantonio Liuzzi, and finished 17th, ahead of Ricciardo.
Ricciardo has since moved on to Toro Rosso, Red Bull's sister team, with Spanish veteran Pedro de la Rosa the only driver confirmed by HRT so far.
The Spanish-based team's owners have also replaced Colin Kolles, who handed Karthikeyan's his drives at Jordan and HRT, as principal with former racer Luis Perez-Sala now in charge.
Perez-Sala said on Saturday that HRT were in advanced talks with several drivers but gave no details.
"It's a decision we surely won't make until the start of next year because, at this stage, who will be the team's second driver for next season is perhaps the least urgent one right now," added the Spaniard.
He also warned that HRT, who have yet to score a point in two years, would be less competitive next season than they had been at the end of 2011 and were "taking a step back so that we can take two forward."
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