Great story... I'm going to quote it further:

Hindi cinema has a long history of borrowing and adapting from Western sources, be they Busby Berkeley dance routines in the thirties, Chaplin-like heroes in the common-man social epics of the fifties, or Dirty Harry, a major influence on the wildly popular revenger tragedies of superstar Amitabh Bachchan... India has its own comic-book traditions, too. Most bus shelters and train stations stock Amar Chitra Katha, a series of historical and mythological strips based on the stories of Rama. One of the most popular superheroes of the seventies was a shaggy-haired, bell-bottom-wearing dude called Bahadur. In April, Penguin Books India published the country’s first graphic novel, Sarnath Banerjee’s Corridor, which is already into a second printing. Hollywood animation companies have begun to outsource creative work to the subcontinent, where they can rely on a steady pool of ex–street painters whose former livelihoods waned because of crackdowns in illegal advertising and the rise of photography in film posters.

Note about Coke vs Thums Up And as for India being "ready" for Western superheros, the Superman, Batman and Spiderman movies have all made millions of dollars already. They painted a local train in Bombay with Spidey's costume colours and artwork to promote the first Spiderman movie. Growing up, we all used to read the "western" comics, alongisde the Amar Chitra Kathas. In fact, Indianising Spiderman is happening very late in the day. When G.I.Joe was sold in India in late 80s, they had to change the main tagline from G.I.Joe the American Hero to G.I.Joe the International Hero.

Bugger. Most of my previous comment got lost somehow!@!
The first part should read:
Note about Coke vs Thums Up - Thums Up was built on the "ruins" of vacated Coca-cola factories, after Coke was kicked out of India in the 70s by Neanderthal governments (which are responsible for bringing India to it's pre-1991 state). So if anything, Coke and Thums Up are second cousins - BTW, you DO know that Coke has bought Thums Up right? - Which is actually just Coke reclaiming its old properties...

i read the comic its total nonsense! as an indian living in india,i found it to be totally revolting. :( but what else can you expect. mary jane is maya something and i forget what pseudo name they gave peter parker. and guesswhat, he gets his powers from some old sage/rishi-muni fellow. and osborne becomes a green rakshasa that looks like some character they ripped off from a hentai film. can't believe people actually create rubbish like that.