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Apple and Watch Mother Exchange 7 XXX MovieSamsung would battle it out in India during the Diwali holiday season with one thing both rivals have no shortage of -- marketing dollars.

SEE ALSO: Indians will have to shell out at least $900 to buy the iPhone 7 when it goes on sale in October

Samsung plans to spend as much as $18 million on marketing in India as the world’s fastest growing smartphone market awaits its biggest festive season. But it won't be alone. Its global rival, Apple, too has similar intentions with a marketing budget north of $15 million for the same, Economic Timesreports.In India, Diwali is as big as Christmas in the west and Indians put off big purchases for this period when retailers and brands offer discounts and offers. Last year, Flipkart, which is India's largest online retailer, sold goods worth $300 million in its five-day "Big Billion Sale" that preceded Diwali. Rival Snapdeal has earmarked a marketing budget of Rs 2 billion ($30 million) for marketing over 60 days in the run up to Diwali this year.

Samsung could offer cashback worth Rs 5,000 ($75) and cheaper financing plans for its Galaxy S7 and Galaxy S7 edge smartphones as early as the coming weekend.

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Apple, meanwhile, is launching the iPhone 7 and iPhone 7 Plus on Oct. 7, approximately three weeks before Diwali. The launch is typically accompanied by a marketing blitzkrieg, which includes launch day events across multiple cities and advertising across print, television, online and billboards.

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For Samsung, it has become even more important to convince people to purchase the Galaxy S7 and the Galaxy S7 edge smartphones. Last week it had to halt sales of the Galaxy Note 7 after it found heating and explosion issues with the phone's battery. The timing was especially unfortunate, as a week later Apple unveiled its new iPhones.

Indian customers wait to buy the new Apple iPhone 6 at the Unicorn Infosolutions Apple Premium Reseller store in Ahmedabad early on October 17, 2014. Apple launched the iPhone 6 and iPhone 6 Plus smartphones in India at midnight on October 17. AFP PHOTO / Sam PANTHAKY Credit: AFP/Getty Images

Apple, on the other hand, plans to make its iPhones easily available to consumers. The company is trying to extend the reach of its products in smaller neighborhoods stores, an official with Apple’s trade partner told the publication. Earlier today, Apple's distributors in India announced their plans for the upcoming iPhone 7 launch in the country.

However, with the iPhone 7 prices starting at Rs 60,000 ($900) and likely to be in short supply, Apple could focus on selling more of its older models by making them more attractive with discounts and schemes. The iPhone 5s, for instance, is still a best seller for the company in India and retails at approximately Rs 20,000 ($300).

Apple has acknowledged the significance of India in its future roadmap, and this year it announced a software development center and plans to open an accelerator for app developers in the country. The company has also expressed intentions of opening its flagship stores, in a move to bolster awareness and accessibility of its products.

Samsung, meanwhile, remains India's largest smartphone brand both by volume and value.

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