It does not take much to guess that Amazon would soon enter into Indian e-commerce. But my prediction is that it might be sooner (soon as in middle of 2012) than later.
How I am making this guess?
Because of the recent FREE Super Saver Delivery from www.amazon.co.uk. Though the super saver is currently applicable only to purchase more than 25 USD (Approximate Rs. 1250/-) and only books, music and DVDs are eligible, it surely shows the current interest from Amazon management team on India. The offer is available until January 15, 2012.