Start-up community in India is vibrant. I agree. But right now it's in age of infancy. Most of them are too much carried away by 'titles'. The products being built are mostly mashup of existing APIs. Most founders lack long-term vision, lot of people do it as a cool thing. There are few companies with real innovative products.
Mostly the tech-culture that you find in here is nowhere near to that in Valley.
All experiences are personal. I have worked in a very good start-up in Bangalore, attended couple of speed-dating sessions with startups where I interacted with around 20 startup founders. And I attend meetups in New Delhi often.
I am really not so much aware of startup hubs in Europe. Do you know which of them are visa friendly :)