It took me a while, but finally I am on Kinect.
Microsoft India store seems to be out of stock on Kinect, so eventually ordered from
flipkart.com. As my colleague
Naveen, had shared earlier, getting connected and starting to play was very easy. As Naveen had mentioned, Kinect XBOX console comes with a 15 amp Power plug, which makes it a bit of a challenge. This is surprising since the rating on the power adapter reads just 2 amp so a regular 3 pin 5 amp adapter should have worked. So I had to buy a 5 amp to 15 amp converter (which one can buy from your local electrical store).
Everything works like a charm. The only minor issue is the readability of text on my 32" 16:9 LCD TV. I will need to recheck the configuration and am also waiting for the HDMI cable. Hopefully it will make it a much better experience. It will be good to see support for directly plugging in my mobile broadband dongle into XBOX and connect to network, as that is what is gaining popularity these days.