The new issue of the literary journal World Literature Today is devoted to modern Indian writing, and I was pleased to find my novel Arzee the Dwarf cited in it on a list called: "60 essential English-language works of modern Indian literature".
Some of the web-only content from the magazine is here.
An old post on an anthology of world literature, Words Without Borders, is here, with links to several essays on the pleasures and problems of the work of translation.
Words Without Borders is, of course, also the title of one of the premier online journals of world literature today, and a recent issue of the magazine, guest edited by Muhammad Umar Memon was devoted to Urdu fiction from India. An old post on Memon's anthology of Urdu writers from Pakistan in translation, Do You Suppose It's The East Wind, is here.
Last, for an interesting theoretical perspective on the idea of world literature, you might be interested in reading "Goethe Coins A Phrase", the introduction to David Damrosch's book What Is World Literature?.