The following table displays the availability of Zune by location.
Just a few days back Zune software was updated to ver 4.7. And now this chart as it shows Zune software being introduced worldwide though with limited versions of Zune.net. But one has to get the Zune HD device from US or Canada. So I think this worldwide availability is being targeted for Soon to be available Windows Phone 7 devices which integrates Zune .
This KB article reviewed on October 11, 2010
For more info please check - http://support.microsoft.com/kb/952586?sd=zune
EDIT: Also check India specific Zune.net site