Available at position 829 on Sky's electronic programming guide, the channel is initially being offered free-to-air but will soon join the View Asia subscription package.
Colours will broadcast a 24-hour schedule featuring entertainment programming, reality TV, drama, game shows, Bollywood films and Indian versions of popular formats such as Fear Factor and Got Talent.
Bollywood legend Amitabh Bachchan, who will front the channel in the UK, said: "I feel honoured in being able to partner with a media channel that has been a conduit of social change while churning out excellent quality entertainment.
"I am sure Colours, with its myriad hues of entertainment, will spread its magic in the UK as well as it did in India."
After first launching in India in July 2008, Colours has since grown its reach in the country to around 45 million households via cable, digital TV and IPTV platforms.
Speaking about the launch, Viacom18 managing director Bhavneet Singh said that the channel has "changed the landscape of Indian entertainment" and will now look to reach audiences further afield.
"Our aim is to bring compelling and innovative programming to all Hindi audiences outside the Indian sub-continent, across all generations," he said.
"There is a huge appetite for Hindi language entertainment and we're confident that Colours will quickly become the ultimate family entertainment destination for Asian communities across the UK."