The best solution is Dragon Naturally Speaking. There you can choose English - Indian accent. I am sure it is the best solution out there. Had researched about it a couple of months back.
Wave To Text - powerful English speech recognition software
A useful English speech recognition software 'Wave To Text v5.2'. Help you convert your voice to text in real-time, while the program's wizard enables you to convert your Windows Audio WAV files (speech recorded) offline.