While the Redmi Note 4 costs only Rs.12999 ($200) with same spec sans dual selfie cam and has a bigger battery. Vivo phones are not worth it; never was, at least in India.
At that price I doubt if there will be even a single preorder. :)
What Xiaomi Redmi Note 4 gives you at INR 14k, Vivo is selling the same for INR 28k. Crazy phone, crazy price.