(DIYA TV) — Less than 10 years ago, a common flip phone with an underdeveloped camera would cost you several hundred dollars, before the new two-year contract. Now, cell phones are considered a simple commodity, perhaps easier to come by than water in some countries. On Wednesday, Indian smartphone manufacturer Ringing Bells will release the “Freedom 251,” which will sell for a measly $7 U.S.

It will sell for Rs. 500 in India, and was made possible “with the immense support” of the Indian government, according to a statement. The Freedom 251 has been touted as India’s cheapest smartphone, and is likely the most affordable of such in the world. Ringing Bells said it will release the exact retail price and features of the phone during an upcoming launch event. Set to be in attendance at the launch event are some of India’s top government officials, including Shri Manohar Parrikkar, Union Minister of Defense and Shri Murali Manohar Joshi, Honorable Member of Parliament.

The company is proud to present a product which they believe follows the theme of Prime Minister Modi’s platform and vision to connect all of India’s citizens. Further, the phone meets the standards of Modi’s “Make in India” initiative, a government project meant to entice multinational as well as domestic players to manufacturer their products in India.

Freedom 251’s release is strikingly similar to the release of the Aakash tablet, a product which was promoted by the Indian government to provide college students with affordable computing and Internet-browsing machines. Launched in 2011, the tablet was priced under Rs. 3,000, and became even more affordable to students throughout the country with a price of less than Rs. 2,500, before the program’s closure last year. The smartphones price gives it the true ability to significantly improve the lifestyle of the country’s citizens who have a low income.

It’s the second time in as many weeks Ringing Bells has made headlines — earlier this month the company announced the launching of the Smart101, a 4G ready smartphone with a price point of Rs. 2,999 (approximately $44 U.S.). The Smart101 sports a 5-inch display, 1.3GHz quad-core SoC, 1GB of RAM, and 8GB of inbuilt storage which can be expanded to 32GB using a microSD card.