I think people won't go for a Belta if the price is not lesser than 800k. I am in love with that car. Looks superb and the drive is EXCELLENT... it really is a mini camry but it's way too expensive for an imported car. Perhaps, if they were selling it UNDER 800k then it'll be able to make a little dent in the market if not a major one.
Vitz has created its own market. I heard that Toyota is planning to launch Vitz here in future (oh god they are gona destroy it) but I think no car comes even close to Vitz when it comes to price, popularity, part availibilty, luruxy etc
Comparing Vitz and Belta is not wise. Belta is a sedan car, one that is fairly new. The Vitz that have been highly successful here age 3 years old at least. The new Vitz model 05 and onwards is yet to establish itself. Lots of unanswered questions looming around. Belta is going to face similar issues but once they have been answered and the price is right, it'll sell like smoking hot cakes that everybody's going to wana have