I went with the Luminous Zelio, because it has a sleek design that doesn't look out of place in the house, a very easy to understand display that shows the time required to charge, and the amount of backup in the batteries. It's a pure sine wave inverter that kicks in instantly so a power cut doesn't mean that my connection is temporarily reset, or any other annoyance like that. It's also equipped with a number of other features such as short-circuit protection, and input mains protection.
For the battery, I went with Exide 150Ah tubular battery instead of Luminous, because of the three-year warranty. Most consumer reports also say that this battery is highly reliable, and has easy indicators that show whether its water levels are suitable or not.
This combination is available online for Rs. 17, 750, but if you shop around at local electrical goods stores, you'll probably get a better deal - I was able to get this combination for Rs. 16, 000, and the shopkeeper also included a trolley worth Rs. 1, 000 as part of the bargain.