I have tried all the stand alone mics and they have all turned out to be shit.
I just bought this USB headphones with mic integrated for Rs. 350 (Now Rs. 500) and they turned out to be better than any standalone mic.
Do not buy this. I repeat, do no buy this.
Absolutely shitty mic, low quality sound and horrible build quality. Only positive is it's light weight.
Got it for 250 on sale. Not worth even 100.
I also had iball one for 350 or so. Was much better, nice clear loud sound and way better mic. But was heavy and a little uncomfortable. But you cannot expect anything more for 350 bucks.
There is another one on sale right now with decent reviews though looks kinda stupid. Search for "steelseries Sims headphones" for 999. Here you go - http://www.amazon.in/SteelSeries-SIMs-Gaming-Headset-51161/dp/B00LIW8I2Q