As far as I know is that you have a limited options that to not so advisable.
•Doha bank DBFS through Axis bank is very costly as they charge fixed amount other than the brokerage on every transaction (buy and sell both).
•ICICI people here (Commercial bank) will say that first we have to open an account in Commercial bank then ICICI account will be opened. In case if you have accounts here in some other bank it became useless to have so many accounts. But again the charges are on the higher side.
•HDFC especially trading account is not possible to open from here.
It will be better if one get these accounts opened from India.
All these information based one from my personal experience in the month of Nov-2009.
Happy investing....