The 40-year-old Spaniard will continue to race alongside Frenchman Esteban Ocon who was handed a fresh three-year deal by the Renault-owned team earlier this season.
The company, which sells models like Kwid, Duster and Triber, said the price hike from January would vary across variants and products.
The Kiger will compete with the likes of Maruti Suzuki Vitara Brezza, Hyundai Venue, Kia Sonet, Tata Nexon, Ford Ecosport and Honda WR-V.
The two-time Le Mans 24 Hours endurance winner and former Ferrari driver, who turns 39 this month, secured his championships in 2005 and 2006 and most recently raced for McLaren in 2018.
However, it is unlikely given the Bathurst 1000 takes place in the second week of October when the Formula One season is still in full swing.
The three variants of the Triber EASY-R AMT is priced at Rs 6.18 lakh, Rs 6.68 lakh and Rs 7.22 lakh respectively.
The coronavirus outbreak in Wuhan forced the factory to shutter, just as Renault was wrestling with slowing growth worldwide
Renault, whose F1 drivers are Australian Daniel Ricciardo and Frenchman Esteban Ocon, said it would top up the amount allocated by the government to guarantee a minimum of 80 per cent of actual salary for all team members.
Triber has been a volume driver for Renault in the domestic market with the company selling over 28,000 units of the seven-seater car since its launch.
The 0.8L variants are priced between Rs 2.83 lakh and Rs 4.13 lakh while the 1.0L rims are tagged between Rs 4.33 lakh and Rs 4.84 lakh.