No, thats not the case, even when it was launched it retailed for about 33-34 K in india.
Here
http://www.primeabgb.com/index.php?page=shop.product_details&flypage=flypage.tpl&product_id=5389&category_id=167&option=com_virtuemart&Itemid=53
 its a well known shop / online store in mumbai.

you can find it for even less if you search.