iDB readers that don’t live in India (that would be 99% of you) might just want to skip this post, unless you want to learn about an interesting subsidy model this Indian carrier is using.

I often get emails from Indian readers complaining about Apple not selling the iPhone 4 in India. As powerless as I am, my only response usually is “I’m sorry but there is nothing I can do”. Today, I’m glad to report to our Indian readers that the iPhone 4 is finally making its way to India.

According to TUAW, the iPhone 4 is going to hit the Indian market this Friday, May 27th, compliments of local carrier Aircel…

The iPhone 4 will be available with both pre-paid and post-paid plans. An Indian iPhone doesn’t come cheap. Expect to pay Rs 34,500 (about $750) for the 16GB model, or Rs 40,900 (about $900) for the 32GB iPhone.

Not cheap indeed, but as TUAW notes, Aircel is using a reverse subsidy model. You pay the price of the phone upfront but you get monthly discounts for the 24 months or your bill, which can end up getting you the iPhone 4 for free. Not a bad deal in the end.

Hope our Indian friends enjoy their new iPhones!