According to data from the Indian Department of Commerce, less than 4,000 units of Sony’s next-gen PS5 console were imported to India in the last month of 2020. The info was tracked down by a Twitter account that keeps tabs on PS5 stocks in India. Even if you go by an import value of 32K per unit (excluding the customs charges and taxes), you get a maximum of 3,900 consoles.
As per IGN India, the total number of units diverted to the Indian market at the time of launch was between 4K to 5K units at most, same as the PS4 which sold approximately 4.5K units at the time of launch in 2014. This is much lower than the ideal figure of 12K to 15K which would have kept the prices in check, all the while deterring scalpers.