Well, to me and many people .info isn't professional enough and largely regarded as "spam" domains...anyone can buy .in domains. Cost isn't always the deciding factor...I'd prefer a .in in the case.
Exactly that is the problem... its available so cheap... I think you are right.. I have also started getting this feeling that .info is more of a spam domain name...
Look at all the proxy sites who fork out... a buck a time and create a massive network. They wouldnt if it was 9.99 would they.
If you get the .in you will probably have a bonus in the search engine result pages that display indian content but you will probably be less granted a high position when dealing with .us based markets. I suggest go for .info.