Verizon's iphone 5 or factory unlocked iphone 5? - 1

Verizon gives iphone 5 at 199$ and the factory unlocked iphone 5 costs 649 $.
the verizon's iphone is already unlocked too.
so, why should anyone by an iphone for 649$ when its available for much cheaper rate as 199$?
i'm from india, so if i could buy one of these and bring back to india, would i be able to use it in one our networks?

Added (1). So what if i put in a new sim card or use it out of the country?

Verizon will sell it to you for $200 but you have to activate it on Verizon and sign a 2year contract saying you will keep the phone for at least 2years and stay with Verizon for 2years. If you pay $649 you can get the phone and activate it whenever you want on any company.

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