Indian, which is the oldest US motorcycle brand, will compete in India with the likes of Harley Davidson and the recently launched British superbike brand Triumph.
"This launch holds great importance for us... Polaris India has ended the long wait for Indian motorcycle enthusiasts with this launch," company's Managing Director Pankaj Dubey told reporters here.
Polaris India has launched three models under the Chief range -- Classic, Vintage and Chieftain, priced at Rs 26.5 lakh, 29.5 lakh and Rs 33 lakh (all ex-showroom Delhi).
When asked about the sales target for the bikes, Dubey said: "In 2012-2013 the market size for superbikes over 1,600 cc in the country stood at around 200 units. This year, we expect the market to grow by 40-50 per cent. We are looking to have 10 per cent market share of that."
The superbike maker has started taking orders for the three bikes from today and will start the delivery from March.
"We are opening first dealership in Delhi. Later, we also plan to open one in Bangalore," Dubey said.
When asked if Polaris, which sells off-road and all- terrain vehicles and Indian motorcycles, would have common dealerships, Dubey said: "Till we set up the required infrastructure for Indian motorcycle brand, the Polaris touch points would serve the bike customers as well."
Polaris India has around 50 touch points in the country.
Minnesota-based Polaris acquired Indian Motorcycles in April 2011 and unveiled an all new range of motorcycles in August 2013.
The company would be importing the three bikes as completely built units into India from its lone manufacturing facility in the US.
"The bikes would come as CBUs. At the moment, we don't have any plan to assemble them here," Dubey said, adding that the company would like to "position the Indian motorcycle brand above all superbikes available in the country".
Sporting a powerful 1,811 cc engine, the three bikes under the Chief range come with various luxury features including ABS, cruise control, keyless ignition and aluminium frame.
Triumph entered the Indian market with 10 models in November. The company's motorcycles are priced between Rs 5.7 lakh and Rs 20 lakh (ex-showroom Delhi).