You dont have to do recency in India . Only the skill tests .
Same for the multi only the checks and not the basic training .
The link is given on the first page of this thread . But i have posted it again for your convenience.
http://www.dgca.nic.in/circular/FCL1_2012.pdf
Now as far as rumours go........
The DGCA soon will make it mandatory for all those converting their licenses to give the technical specific exam in India especially for those candidates who come from countries where the test is not conducted ( eg FAA )
So to be on the safe side I would recommend everyone to clear the tech specific on the aircraft you want endorsed on your DGCA license . Otherwise you should apply for your license next month .
The rule is expected to come into force somewhere around Jan 2013.....dont be surprised if it comes earlier though.......