There is nothing new under the sun. I think it is a great idea to look internationally for inspiration, then think locally to create innovation.
I cannot tell you what would work in India, but trust you are better prepared to answer that part of your question than I. What I can do is try to think of well-known US startups that never appeared to expand significantly outside the US.
I'm not an expert on any of these companies or on what's successful in India outside of what I read here in the US (FlipKart, Saavn, WhatsApp, Hike, Snapdeal, Ola); they may have an Indian presence and my guess is almost all - if not all - have established Indian equivalents already. However, perhaps you can see something I cannot in why these companies became well-known in the US without exploding in India as well.
I do think this is a worthwhile exercise - I don't see it as the same as Rocket Internet, who try to take business models that will work anywhere (e.g.: travel, ecommerce, social networking, messaging, etc) and take them to new geographies first; that's just kind of lazy (though I think they've net done pretty well ctually - while lazy in terms of business model selection, you can learn a lot watching the effort they consistently put into operations).