"The iconic Bullet motorcycle gets a new lease of power today with the launch of the Royal Enfield Bullet 500 in India," said the company, which is Eicher Motors' two-wheeler arm.
The 500 cc motorcycle will be available at Rs 1,53,855 (on-road price for Delhi) and it will be launched in a phased manner across the country, it added.
Initially, the bike will be launched in Punjab, Haryana, Chandigarh, Delhi-NCR and Kerala that have traditionally been the best markets for the Bullet.
"The Bullet 500 is a much-awaited model and while designing the bike for the Indian market, we worked with the preferences of our special Bullet-loving audience here," said Shaji Koshy, Royal Enfield's senior vice president for sales and marketing.
Bullet is the oldest motorcycle in continuous production with a fiercely loyal customer base across the world, he said.
It comes with a host of new features such as front disc brakes, rear gas shock absorbers, telescopic front suspensions, pillion backrest and electric start.