I'm an Indian, but based in Australia. I doubt many Indian hackers know about this site or YC for that matter yet. Besides, most Indian startups focus on the domestic market, and the hacker community is more localized comparitively.

However the wave is catching up: http://www.google.com/search?hl=en&q=indian+startups and I'm sure you'll see a lot more hackers and startups emerging from India in the near future.