I would like to add to moguns review and will agree with him about the quality of the product and the quality of the sound output from it which is excellent. I paid INR 8000 for it as the price increased by INR 500 from INR 7500.
The player I have is a 512 mb thing and I can store approx 250 songs on it. the quality of the fm radio and voice recording is excellent and the mic is quite sensitive. Above all this is the inly player I found in the market which has the line-in socket and can directly record & encode to mp3 from any playback device through the line in. The player is petty tough and the carry pouch and the lanyard provided are good for people on the move.
I would recommend this player to anyone who fancies an mp3 player and is willing to look beyond the apple I-Pod tag. My player is IFP-795 and not the IMP-350
Shantanu