Vinay Deshpande, who, together with four of my colleagues at IISc developed the Simputer (there are two competing versions: Encore and Amida), and his colleagues at Encore Software have unveiled a sub-10k rupee "mobile desktop", Mobilis. The Hindu had a front page report, accompanied by a picture of a beaming Dr. Mashelkar, the CEO of the Council for Scientific and Industrial Research, which funded the development of Mobilis. Here is Charukesi blogging about it. Mobilis has also been slashdotted! Bravo!
Without taking anything away from this great achievement, I think it is okay to point to a piece of rather wicked humour that is buried in the slashdot discussion (here is the link ;-).