The price estimate sounds almost too good to be true, but remember that it will be sold only on Snapdeal (at least initially).

Please remember this fact when/if the Intex Aqua Fish ever comes out of India and you are taken by surprise that the price is much higher than that. The partner space concept allows for the phones to be subsidized with the prospect of getting further revenue via advertising (or in case of Snapdeal offering your services) on such partner space. As seen on MWC, there are two partner spaces on the Aqua Fish, which suggests that it is really being sold with this concept in mind.

This may result in taking some means to prevent people from buying multiple devices and selling them abroad, so we will see if it's possible to import it from India.

Either way, once/if the phone comes worldwide and you see people mad about the pricing difference, please have in mind what I wrote above.