Yeah, shame on them for trying to make money on the system they are developing

The Intex device is subsidized by Intex and Snapdeal, as it includes advertisements (Super Apps/Partner Space), while Jolla C has pure Sailfish OS without any of that, so the real device price would be probably higher
And how much of the rest is shipping from India to Finland (presumably), flashing clean OS, shipping from Finland to you and EU taxes and customs?

On the other hand, they save on warranty services, but in my opinion, the price is quite fair.