NEW DELHI -- India's growing luxury market will now see the arrival of the iconic Ferrari cars which will be marketed here following a distribution agreement signed between the Italian car maker and Mumbai-based Shreyans Group.The agreement will see the opening of the first Ferrari showroom in India in the capital New Delhi by spring followed by a second one in Mumbai later this year. Ferrari will sell four of its models here including the Ferrari California, 458 Italia, 599GTB Fiorano and the latest FF unveiled at last week's Geneva Motor Show. Shreyans Group – which also markets other international luxury and fashion brands here -- will import and sell Ferrari cars which will be priced from about 220 million rupees ($488,000) and up. “We are proud to announce the partnership with Ferrari. This brand represents for us the epitome of success and we are proud to partner with one of the world's most desired brands. We will establish a highly qualified network of Ferrari dealers across India to cater to the discerning needs of our customer,” said Shreyans Group chairman Ashish Chordia. The Indian luxury car market is estimated to be growing at an annual growth rate of about 40% for which major brands such as Rolls Royce, Porsche, BMW and Mercedes have established a strong local presence. New Ferrari customers in India will join a select group that includes cricket icon Sachin Tendulkar, Bollywood actor Sanjay Dutt and billionaire industrialist Ratan Tata. Interestingly, Ferrari has also inspired one of India's most successful filmmakers Vidhu Vinod Chopra, who has co-written and produced his upcoming film Ferrari Ki Sawaari (A Ferrari Joyride) directed by Rajesh Mapuskar slated for release in late 2011.