The launch is part of Microsoft's plan to strengthen its presence in the smartphone category after rebranding itself in the handset category following the purchase of handset division from telecom major Nokia.
The Lumia 435 smartphone is the first in the 400 series Lumia platform and comes with the latest Windows 8.1 operating system, 2MP camera, eight GB memory, a company statement said.
Lumia 532 is equipped with 5MP camera, with 1GB RAM. Both the phones come with 30GB free OneDrive cloud storage offered by Microsoft and also with Micro SD slot with a storage capacity of upto 128GB.
"The latest Lumia 532 and Lumia 435 address the need in the market for those looking at an uncompromised experience in their first smartphones and at affordable price points", Nokia India Sales, subsidiary of Microsoft Mobile Oy,Director South, T S Sridhar said.
"The Lumia 532 and Lumia 435 are a perfect blend of premium design, seamless efficiency and high end innovation taken from the premium Lumia devices", he said. The phones would hit the market from February 20, the statement said.