hi andyspeak
welcome to the forum! It looks like we haven't got any members who have experience of new institutions in India, neither have I. If I had the opportunity to work in India I would take it because I love India. If I could pick somewhere to go besides India it would also be Thailand or Indonesia.
Oh yes have you looked at China? In July I met a retired English-language teacher on the train. He told me that he has a teaching contract up to 2014, and has already been receiving offers to teach English beyond 2014! If you're willing to travel a bit further, chances are there will be a lucky university to take you, who knows?
Good luck with your job search--and do let us know how you do
love satchi