In contrast, Hotstar, which also offers content from AT&T Inc's HBO and streams live sports, charges Rs 299 per month. Amazon bundles its video and music streaming services with its Prime membership.
Netflix's announcement was part of its quarterly results, in which it reported lower-than-expected subscriber additions.
India figures prominently in Netflix Chief Executive Officer Reed Hastings' global expansion plans. The company is investing heavily in creating blockbuster shows such as crime thriller "Sacred Games" and "Delhi Crime" with A-list Bollywood actors.
The second season of "Sacred Games" is set to release in August.
"We've been seeing nice steady increases in engagement with our Indian viewers that we think we can keep building on. Growth in that country is a marathon, so we're in it for the long haul," Netflix Chief Content Officer Ted Sarandos said.
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