I did my initial Class 1 Transport Canada medical in Dublin. Got a CPL on it too, so it must have been fine! :P
This was a specific one place that was TC approved though, so I'm assuming that if someone is approved like that in India it shouldn't be a problem. Check with TC though.
And yes, they should issue to your home address, but posting from Canada could take ages (my IR endorsement took 5 weeks to get to Ireland). You _could_ ask them to fax it to you if you need proof of it but from what I hear bugging them about stuff usually makes it take longer :s