All 20 Indians staying at Radisson Blu hotel in Mali's capital Bamako, where gunmen took 170 people hostage on Friday, have been freed, the External Affairs Ministry said.
The rescued Indians work for an Indian business group based in Dubai and have a permanent room in the hotel.
Gunmen went on a shooting rampage at the hotel seizing guests and staff, the hotel chain said. At least three hostages have been killed, said Mali's security ministry.
Security sources said the gunmen were "jihadists" who had entered the hotel compound in a car that had diplomatic plates.
According to the latest local TV reports, 80 hostages have been freed so far.
The Rezidor Hotel Group, the US-based parent company of Radisson Blu, said two people were holding 170 people hostage.
Islamist groups have continued to wage attacks in Mali despite a June peace deal between former Tuareg rebels in the north of the country and rival pro-government armed groups.
Northern Mali fell in March-April 2012 to Al-Qaeda-linked jihadist groups long concentrated in the area before being ousted by an ongoing French-led military operation launched in January 2013.
Despite the peace deal, large swathes of Mali remain beyond the control of government and foreign forces.
Radisson Blu has more than 230 luxury hotels and resorts worldwide.
