Although i am not in India, I think I can answer some of the questions.
Not sure about the conversion, but you would need to do the Indian exams including radio telephony(you can do this in England).
Air India is hiring and the applications have to be in by March 8. The requirement is just a basic CPL/IR/ME. The info and application format can be found at
www.airindia.com. look under careers.
Indian airlines is also hiring. they have their info under
www.indian-airlines.com. click on news and there should be a link to the requirements. you will probably need to know the right people to get a job there.
good luck