“Last week, a beauty salon in the north India town of Chandigarh said it would accept bitcoins as payment for its services. Nisha Singh, owner of CastleBloom Beauty Bar, says she wanted to give her customers another payment option and also attract publicity for being one of the first Indian stores to accept bitcoins. Devansh Agarwal, a 22-year-old undergraduate student of engineering in a small town named Jamshedpur in eastern India, says he is trying to set up his own bitcoin exchange. Mr. Agarwal bought his first bitcoins in July with prize money won in college quiz competitions. He says his 100,000-rupee ($1,640) investment in bitcoins is now worth one million rupees ($16,400).”
http://blogs.wsj.com/indiarealtime/2013/12/12/bitcoin-fever-catches-on-in-india/