Thanks!.Actually the Seagate FreeAgent Go 500GB Poratable Drive was available for Rs.3700, but this one costs me 200 bucks more, because its a bit smaller than the former. Its the Ultra-Portable Edition. I dont know whether they charged me more or not, but it was cheaper compared to many other stores at my place(Cochin).
I dont think Seagate is having international warranty. I purchased a drive from dxb, it went bad, and when I enquired with the Seagate Serive people, they said that I have to take it back to dxb itself to claim the warranty :-(