Another option: look for the same guitar in the used market. Use the extra cash to upgrade your guitar's pickup or get better amp or just save up for a better future guitar.
Unlike electronics, a guitar does not get worn out in a year or two. But since there are not many second hand buyers in India, you could get these at a reasonably good price.
-- My current rig
Guitar: '98 MIJ Ibanez RG520 QS w EMG 81/60
Amp: Laney LC15R Tube, Fernandes 20W SS
Pedals: MI Audio Tube Zone Overdrive, Boss OD3, CS3, MT2, HM2, DS2, CE5, DD7, TU3, Beta Aivin DD2 Delay, Dunlop Crybaby 95Q, Stranger Vol Pedal, BBE SupaCharger
Others: Yamaha RBX 374 Bass, Yamaha MM-6 Synth, M-Audio Fast Track, Shure SM-57, Heet Sound E-Bow Plus
Wanted(pm if selling): EB VPJr/Boss FV500L,Ibanez w Original/Lo-Pro Edge