Mr Polikha has said that he was taking photos using his mobile near the Red Fort, which stands in one of the capital’s most bustling areas, when a person simply snatched the device and ran away.
The envoy has told the police that he was alone when the theft took place around 9:15 am.
The Delhi Police says it has formed teams to investigate and will track down the thief soon. The police claim they already have clues.
Mr Polikha was appointed envoy to India last year.