Some of the comments here regarding developing markets are so off the mark thinking that folks there are jumping to the Apple bandwagon in the lower price points. The SE2 when originally launched in India was priced at INR 42,500, which is approx 570 USD, a complete non-starter when at that price and at that time, the upper mid-range Android market offered the OnePlus 8, Samsung S9, etc. Once Apple realized that they weren't gaining any market share with that ridiculous price, they lowered it and now it retails around INR 30,000, which is 400 USD. Even then it was sort of a flop as the reviews came in about the terrible battery and the small screen so Flipkart (India's largest retailer) almost had it one "sale" every other month but the price was constant at the brick & mortar stores and Amazon India. Even then, the sales figures showed that Indians preferred to buy either the iPhone 11 or wait for the sale of the iPhone 12/12 Mini rather than get the "old design".
Although someone already posted what one can buy for 199 USD in India, they forgot to factor in that USD price =/= Indian prices, despite it being produced in the country itself, so no, there are no import taxes that Apple has to pay for the SE, 11 and certain 12 models in India. I doubt it would be any cheaper than INR 20k (~270 USD) and at that price range, the competition from OnePlus Nord series, Xiaomi's Redmi and Poco line of phones, RealMe, Motorola, Oppo, Samsung etc are just too dominant.