I thought the same way you did about the indian niche, and built some sites promoting it, but couldn't find a site that converted good for me, I sent 4 or 5 sponsor sites each like 1500+ clicks off link list traffic and only got a few signups and a couple chargebacks, but it could have been my weak sales skills or the traffic just wasn't from the right places, I do know that some people make a good chunk of change off of the niche, maybe you would have better luck... it is one of the niches that not a ton of people promote yet
I'm thinking of giving it another go after learning a few things from hanging around this board for awhile