We heard of allindiadeals, a 6 month old startup in the bargain shopping area.
From their site:
www.allindiadeals.com is India’s first bargain shopping community. We search the online stores and store flyers for the deals, free stuff, and discounts, and after filtering them, publish the very best ones! At www.allindiadeals.com shopper will find the best deal for gamut of products from Apple iPod to Vacuum Cleaners, Laptops to Levis Jeans, Computers, Digital camera, Cell phone, MP3 players and more.