Apple is planning sale of iPhone 5C from 20th in U.S and other countries. In India the cheaper iPhone might be releasing along with iPhone 5S on 20th October. The iPhone 5C which comes in 5 colors: Pink, Yellow, Blue, White and Green will be the same in hardware specifications as iPhone 5 which it will be replacing. Apart from the polycarbonate there is nothing cheap about this iPhone compared to iPhone 5. Price of iPhone 5C might be same as iPhone 5 since the latter will no longer be on sale. But considering the fact that it has to be clearly less costly than iPhone 5S, Apple may price it anywhere between 38000 INR to 40000 INR.
With the price of iPhone in china being high compared to what it might cost in India, there might be demand from China as well once the iPhone launches in India. Some of the Apple stores in India like Imagine in Koramangala, Bangalore have reportedly started pre-booking. Apple fans turned up in huge numbers to put their number on the list.