The closest match in terms of price is the recently launched LG Optimus L7 which beats HTC One V in terms of pure specification as it has a bigger 4.3 inch IPS panel display and almost the same specifications in all other areas like processor, RAM, camera, operating system etc. However, since we have not tested it we do not know how the LG actually performs.
The other close competitor is Sony Xperia Sola, and though it gets a faster dual core 1 GHz processor and latest Mali 400 GPU it is Rs 1,000 more expensive and has Android 2.3 which is old now.
The rest of the phones, like LG Optimus Black, are priced close but are old models with Android 2.3 or less.