The first issue of Uk domains was .uk, then they had a rethink stopped the issuse and set up .co.uk and .org.uk etc. No you would find it hard to find a site in uk with out the .co in front and would loose traffic to the .co vertion if you did.
Saying thats outside of uk - I can't see many type ins for uk domains being done unless the people know the site they are looking for.
Transfer of .co.uk domains is a real pain in the but because its all done by hand - like pre-computer age, using snail mail.
Back to the point - if you are marketing at the Indian population, then I think its needed - if not then its just key word/s with a strange extension. The Indian market is massive though and growing - both in size and pocket. Not big on PPC yet though, that could take a while - requires banking/wages to catch up.