The iphone will be out in the market on August 22, and in all likelihood out of people's reach as well. While AT&T and O2 subsidised the new Apple product in their respective markets, Airtel and Vodafone aren't likely to do so in India. So the 8GB version is projected at between 16000 and 18000 INR, and the 16GB at approximately 28000 INR.
Now I'd like to take the opportunity to rub it in. The iphone is free in the UK from O2, and T-mobile puts it at 1 Euro in Germany.
I use a Nokia N82. Have a good day.