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Update: VOLTE is now available now on Redmi 2 Prime.

As suggested by users in mi forums that redmi 2 prime has volte capability in lollipop version of miui android.
Volte is needed as Reliance jio is about to launch its lte service in India by march-april 2016. Jio doesn’t have any native fallback network for voice calls to fallback on. So without a VOLTE your phone would be data only even if all the LTE bands (i.e 3,5,40) are supported by your phone.
Have a look at below screenshot of redmi prime 2 phone which shows volte support in lollipop version of miui.

To activate Volte in redmi 2 prime

  1. Click on Updater in tools folder on redmi 2 prime.
  2. Make sure it is up to date with no update pending by clicking on update button.
  3. Now goto settings via app or notification panel
  4. click on first option sim card & mobile networks
  5. click on 4th option (VoLTE Enabled) & make sure it is on. (same as below screenshot)

volte redmi 2 prime lollipop

Also check the new Redmi 4 on

Update is available for all Indian phones now. You can update via method shown above.

This lollipop version is not available for India for now but good news is Xiaomi just called for beta testers for its global lollipop based rom which most probably gonna launch in India too.
All beta testers were called in on 26 Jan till 28jan 2016 , hopefully we can see the push to mainstream users in 30-45days.