Business Standard and The Escapist report:
Sony is cutting console and game prices for PS3 and PS2, as well as working to create Indian IPs and localized titles like "SingStar Bollywood" and "Buzz in India" to capture a market in its infancy. The Indian gaming market is expected to grow from the current Rs 60 crore (US$15 million) to Rs 550 crore (US$140 million) by 2010. The price cuts are as followed:
* PS3: from Rs 34,990 (US$886) to Rs 29,990 (US$760)
* PS2: from Rs 8,990 (US$228) to Rs 6,990 (US$177)
* Games: from Rs 999 (US$25) to Rs 499 (US$12) per game
Sony still ends up subsidising 36-37 percent of the cost on import duties in India.