i have recently heard about an indian hosting company on digitalpoint forums which offers 50% referral commissions and they are in operation since 2003..they are open internationally..may look expensive as per the hosting plan by a few dollars(1 or 2$ more than the usual rates)but they are paying their affilaites in US currency as well as indian rupees..the company name is "real value hosting" and the link is this:

http://rvh.in/

good luck!!