"We believe this iPhone fever we've seen globally will catch on in India," said Sanjay Kapoor, mobile services president for Bharti Airtel, the country's largest mobile operator.
The launch is part of a 70-country rollout of the high-speed phone, which includes a built-in iPod and a desktop-class web browser.
Bharti Airtel and rival Vodafone Essar will sell the phone for 31,000 rupees (712 dollars) for the eight-gigabyte memory model, and 36,100 for the 16 GB version.
The Indian price is far higher than the 199 dollars paid by US customers to the telecom giant AT&T for the phone.
AT&T heavily subsidises the phone in the United States and makes money by tying the customer to annual subscriptions, whereas Indian mobile providers have no such service