Custome duties for electronics is 28.852%. Thing is that both Sony and Microsoft could circumvent this by manufacturing consoles and games in the country itself. Its close to the Gulf states too so it would be great for all these areas.
It is cheaper to import but there is no warranty which is a big deal when it comes to expensive electronics.
Looking at amazon India and hearing Anecdotal reports ps4 absolutely dominates the Indian Market. Sony should start producing them in India though, because if they did sales would see a very large increase with the drop in price.