I definitely believe Indian culture has been commercialized. Like any culture with a rich and vibrant history they will be exploited, it's just a matter of how and by who. In this case I would say they have been exploited by their own people as a way to be accepted in our consumer society.
Although India has become a lot more prosperous, the traditional culture of India remains unmarred by commercialism. The religions of Islam and Hinduism are not at all business oriented or commercial. Although a lot of Indians are involved in commerce, their values remain rooted in traditional cultural customs and practices.