Hiya Krish
For speakers, look no further than these
HB-1 MK2 Horn Bookshelf Speaker
(@ USD 298 a pair in black
OR
USD 358 a pair in Real Wood Veneer, Rosenut finish)
(Note that you will need at least 12-18 inch breathing space at the rear, depending on the loudness, since these are rear-ported)
Should living room space be at a premium, then go in for these
Quick Pack
(@ USD 239 a pair)
Classic One Stereo Speaker System
(@ USD 549 for a pair + a subwoofer)
Here is a run-down on the 8" 200 W subwoofer.
http://www.orbaudio.com/supereightcompactsubwoofer.aspx
They do have a 10" 300W version too, but you wont need that for music plus its out of the budget you mentioned.
http://www.orbaudio.com/ubertencustomsubwoofer.aspx
In either case, you will save money by buying direct. Of course, you won't be able to audition either
unless you live in/around New York/LA (for the Orbs)
Orb Audio LLC
520 East 88th Street
New York, NY 10128
OR
in/around CA (for the HSUs)
Hsu Research
985 N. Shepard Street
Anaheim, CA 92806
Just buy either pair and should the recommended speakers not measure up, I promise to buy either of these pairs from you if you can lug these to India on your next visit here.
I can buy the subwoofer too but only if you can get THAT TOO here w/o cartage or customs charges, which is quite unlikely but still possible.
OTOH, I am sure that you will like whichever of these you buy.
Normally, a blind buy ie buying w/o audition is NEVER recommended by yours truly but thats the whole reason, I make this offer to buy from you at your landing cost (your shipping included) within the next six months of your purchase.
Six months to one year later, I would request you to discount the shipping charges.
More than a year later, I leave it to your sense of fairness. Will still buy them on your terms, though.
Once more, I am sure in my mind that your chances of not liking these at the given price point are very bleak.
I offer this not because I am desperate for these.
BTW, I have a cousin who lives in Orange County, CA and another one who lives in NYC. I make this offer
ONLY and ONLY because I want to reassure you that either way, this wont be a RAW DEAL.
I have a couple of more budget suggestions (read factory direct, no middlemen) for single driver FR (read wide band) speakers and for whatever speakers I recommend, my offer stands. Any stuff which you can pack in your luggage and get it here w/o customs/cartage expenses will be bought by me if you dont like it.
In addition/conclusion, I forgot to mention that shipping charges for both are very meagre for mainland US
(USD 9, for the Orb setup IMAGINE!!)
AND
also that there is a 30 day trial offer (less shipping) on either. Tough to go wrong, NO?
Also, just noticed that you are in RI which means you could well be 5000 km away from Anaheim, CA/ LA and about 300 km from NYC, not that it really matters in the wake of all thats been said here.
Editing this post for the benefit of other FMs who happen to be as geographically challenged as I am, LOL.
For amp suggestions, I need to know your listening preferences and room size. Please post those to enable me to chip in with my two PKs (phooti kaudees).
HTH
Cheerio