It's like in most emerging markets: You can find really really cheap phones from unknown/local companies, but "premium" phones (e.g. Iphone) are usually even more expensive than in the US or in Europe. In India Android phones start at less than 30 USD (Aqua G2 *) ) and 75 USD can get you a comparable Intex Android phone in terms of specs. And yes, specs are on the low side and Intex saved money wherever possible (no compass, one-colored LED, no scratch-resistive screen). Still, overall build quality is said to be OK. Therefore same with me: If it wasn't for the "wrong" LTE bands I woul definitely buy one.

*) Not sure wether this "thing" qualifies as an Android phone. I am amazed that you can even find suppliers for such shitty components (0,3 Megapixel cameras e.g.) in 2016