Indian mobile operators do not subsidize cost of phones unlike their western peers.
Airtel and Aircel are selling the 16 GB model for 44,500 rupees, with the 32 GB version priced at 50,900 rupees and the 64 GB model available for 57,500 rupees.
Media reports last week said Indian fans were unhappy that the smartphone will be more expensive in India than anywhere else in the world.
Both mobile operators, which started selling the iPhone 4S from midnight on Friday, are offering discounted data plans.
The final gadget unveiled during lifetime of Apple co-founder Steve Jobs is more expensive that the iPad 2 in India.