The launch follows its successful world-wide introduction, which lifted the company from a loss of $1.45 billion in 1997 to a profit of $300 million this year.

The machine, fitted with a powerful 233 mhz Power PC G3 processor with 512k backside cache, 32 MB RAM expandable to 128 MB, a 4GB hard disk drive and USB ports, operates on the new Macintosh system, OS 8.5.

The iMac has been priced at Rs 85,000, and a 100 per cent financing scheme has been arranged through Countrywide Consumer Financial Services. Apple has tied up with Godrej, Electronic Resources and Summit to distribute the iMac in India. Godrej will be the major distributor, having a network of 3,000 dealers.

Apple Asia-Pacific president Graham Long said that iMac was two times faster than a Pentium-II 400 Mhz machine, and a plethora of software clubbed with the product makes more attractive.

The other feature is Sherlock, the revolutionary personal-search detective that allows users to quickly and easily find information on the Internet using multiple search engines. The machine also features network copy performance that beats Windows NT.

Graham Long said that the focus in 1999 would be on increasing revenue growth. Sales grew in the last quarter of this year by 28 per cent, he added.

India, he said, would attract major investments from Apple. "We consider this the second-largest market after China, and with the impending Internet explosion and a growth in the home-computer segment, the iMac launch is well timed," Long said.

According to him, the company will provide support services through its existing network, which will be gradually expanded. Apple is also looking at new retail channels, strategic partnership with companies, and various financing options for the growth of iMac.

Apple is in talks with the government to launch an education programme aimed at improving literacy in certain states.