Can i buy iphone from USA, and use it in India?

Actually, In USA, I'm getting several network bound iphone5 at Rs 15000, is it possible to use it in India, with an Indian connection, here in India?

Added (1). I'm not talking about genuinely breaking contract and bringing in India, Here i mean just bring that contracted phone in India, and get it free to use with any carrier like airtel, vodafone in India.

Not if they are purchased under contract
if you don't keep paying the US based company, the phone will be blacklisted

if you pay FULL retail price you could unlock them and use them with a indian GSM service.

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