Certain private players and government agencies are trying the submarine cable, example Bharathi Singtel Venture is a submarine cable venture from Singapore the landing point being chennai, but see the security clearance is being waited. I am not sure of the players trying the Satellite OPtion. Again in India we have lot of procedures and it is only now the Telecom rules are getting relaxed, VOIP is just getting familiar, it wud take some more time.
regarding IPTelephone please do check out Thomson IP Telephone or the Phones provided by Caltiger.
i might not have answered to all the queries, but i have given just my knowledge on this area.