One trend which is picking up again (yes, even in India) is that of wallpapers. I am personally not big on wallpapers; I like them more on a feature wall, or as a diagonal/vertical strip. Presenting some latest wallpaper designs from Designer's Guild (UK). The F&F store in Delhi and Gurgaon apparently stocks products from Designer's guild too:
And ofcourse, the other option with walls is cladding them with stone or brick:
Images: www.pointclickhome.com and www.islandstone.com
And even mud (traditional rural house building material becomes 'in' now!)
Image: http://www.makeitmudbricks.com.au/
Other interesting wall installations found on http://www.2modern.com/
DIY - I guess the above effect can also be achieved with some ingenuity using plaster of paris (?) :-)
There are so many other wall finishes - wall decals, faux wall finishes, fabric coverings, wall mural art etc...shall cover all of above some time later