.co.in has its own place in the whole scheme of things. There are millions of Indian companies and a lot of people now prefer becoming entrepreneurs rather than taking up a job.
If you have relevant keywords in .co.in (relevant to business usage that is), they have value. Some of the regs in .co.in make me shake my head though... for example what would ANY company use something like makemepuke.co.in for anything?
That said, I've always been a preponent of .in over .co.in, have 3x of the former compared to the latter.
Search.co.in is valuable, searcher.co.in not so much, its not really a commonly used term, even in everyday english, seeker is what is used mostly.
Not that it doesn't have value...but mostly to an end user. No reseller is going to pay any more than my estimate coz he'll need to hold onto it or develop it to actually gain value.
Domaining is lot like investing in real estate. If you can develop a rural plot into a great destination, you can realise much higher value from it. Its like flipping a house in that, clean it up, get it indexed, get in the traffic, sell it for multiples of revenue.