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Here's the training centre locator tool: http://mylearn.vmware.com/mgrreg/locations.cfm?ui=www_edu, I don't know if any of those providers in India offer "live online" training, you'll have to contact them and find out.
If your English skills would allow you to take a course with a provider outside of India, here is a listing of live online vSphere 5: Install Configure Manage courses: http://mylearn.vmware.com/portals/www/search/results.cfm?ui=www_edu&menu=search-results&searchtype=simple&category=schedule&id_subject=24385&deliveryType=16&filters=deliveryType
I will check with them.
If you are from India, It's always better to go with class-room training. It's COST effective.
And I found none of the institute provide online training in India. May be I am not updated.
Recently Koeing India and Mercury Solutions are providing ONLINE training for vSphere ICM 5.1, they give access to remote labs for 5 days training.
They are providing this is for around approx 500 $+taxes(12.36%) without exam voucher, so is this valid for people staying in any country for VMware certification, because I can see huge price different in Online training price of different countries.
Also does online training's fulfill VCP certification criteria...
Online training price should be minimize so that more people can participate training.