According to import listing the new G4 variant has already arrived in India. According to that we may be getting the 16GB storage/2GB RAM variant here, but there is an 8GB/1GB variant as well. There's no fingerprint sensor here.
The G4 Play comes with a 5-inch 720p HD IPS display running on the Snapdragon 410 quad-core processor with 2GB RAM, 16GB storage, 8MP rear and 5MP front cameras with Android Marshmallow. At this price point you also have the last-gen Moto G3 available which has higher resolution cameras, IPX7 water-resistance in tow.
The G4 Play would be a tough sell at this price point as you already have the Redmi Note 3 selling for a Rs. 1000 more.