I've been buying bats from India over last 2 years. There is some great stuff available at prices under half what you pay in UK for same bat. I have an MRF Grand edition that a relative got from a reputable sports shop in Delhi. Its a great bat, would totally recommend. And recently got a lovely BDM from Onlinestockist. There is chance they are fake (I don't think they are though) but if so they are very convincing indeed and they are still very high quality.
One issue is the handles which are usually narrow and round, so I had to build up oval shape with medical tape. It's fine now though.
The other issue is after sales service. When I rang MRF about a minor issue they said please post it back to India and we'll take a look. Not really practical... Similarly, Onlinestockist delivered a damaged duffle wheelie. Their response was 'it wasn't damaged when it left here, but we'll offer you a discount on next purchase.'
Will post pics in a minute...