Being an Indian I faced real trouble regarding Bitcoin transactions since there was no guide regarding that. So I will tell you how to buy/sell or send/receive bitcoin in INDIA smoothly.

Most reliable bitcoin wallets in India are,

1. Unocoin
2. Zebpay mobile wallet
3. Localbitcoins

Wallets are required since bitcoins are like cash (internet cash). So it is supposedd to be stored,

Steps:

1. Signup for any suitable wallet
2. Get your unique bitcoin address
3. send or receive bitcoins using this address
4. you can buy bitcoins using your wallet by depositing your indian money to the wallet.

Mostly this deposit of money is performed using NEFT/RTGS/IMPS from your bank account to your wallet account.

I personally found Unocoin provides very good services.
If money is being deposited using NEFT, unocoin wallet shows your money within 2-3 hrs. Bitcoin can be purchased within minutes.
Unocoin also provide the best rate for your bitcoin purchase.

Unocoin dashboard looks like this..