Since everyone is giving their INpinion on .in, here are mine:
1) You cant understand .in fully from the "outside"
2) I would bucket a majority % of people on NP as being from the "outside"
3) Based on technicals alone, .IN is easily in the 5 biggest extensions( based on growth potential over the next 10-15 years)
4) Govt of India has made it(relatively)safe and easy for international businesses to buy, keep,trade and own .in domains. If you are paranoid or dont believe it, then its probably because of your xenophobia
5) Indian market is HUGE. After .com, .net and .cn which other extension has a bigger potential/actual market size than India/ .IN? Market size matters. Good ex where this applies is the .CO vs .IN debate. I do not believe .CO can outdo .IN in the long term. I watch LLL.co prices weekly also. Some of the prices are BAD. I wish them both well regardless.
6) .IN is the worst thing for short term domaining.
7) .IN domain prices (reseller+ end user) are currently very "commoditized, but historically the "commodity" has has spent good time on the lower(vs higher) end of the commodity's price spectrum. Thing is, if prices "go up", there's alot of $$$ to be made, even before markets "cool down"
8) .IN is a relatively quieter market in general. People actively discuss over msngers and apps, and many sellers and buyers dont proactively discuss publicly/report their activities. You learn about more sales just from knowing people invested in .IN.
9) Good one word .INs are impossible to find at affordable prices.
10) On the reseller market, good .INs avg ~15-20% annualized ROI
11) Attitudes about domains in India are currently a downside. Yes i noticed that some Indian end users/inquirers are low ballers. But even if that is an issue, why dont we focus on the other Indians who WILL negotiate fairer prices? Once again, its a huge market, so even a small % = a large #.
12) In the long term, you can get rich. Please remember i said long term. If you are a domainer who expects magic profits with stories like: "oh , i bought xxxx.ext X days ago and today i sold it for $500", you cant see the .IN riches. But you can buy the best names, such as LLL.ins, and HOLD(like i said before, this is not for the domainers who can't hold their domain longer than they hold their pee) for 15-20 years and make $$(we are already 10-12 years into that period)
13) Indians have no solid, secure, recognized, affordable(relatively) extension to use other than .IN.
14) .IN's bear market either just ended, or is about to end.
15) .IN is a financially stable investment- its here to stay,backed by over a billion people(only China can rival in population) who speak English, renewal and reg prices are solid and well prices/very affordable(high renewal fees killed .info IMO. renewals @ $12.15/yr? WHHAT?), guaranteed market price growth, etc etc.
Cheers!