According to a report on the Express Travelworld website, representatives from Monaco Government Tourist Office and Convention Authority and the Societe des Bains de Mer have visited India to promote the Principality as a luxury destination, especially for what's called MICE tourism (meetings, incentives, conferences and events).
The Fall 2007 supplement to Time magazine contains what they call the Global Luxury Survey, which investigates the markets for luxury brands in China, Russia and India. We have a paper copy in the library that you can consult.