According to this AngryPixel report, Soul Calibur IV won't be releasing in India because distributor Ubisoft's refusing to drop prices for the market.

Indian games distributor e-Xpress said it won't be buying in the title because of Ubisoft's stance, and fears - in India, at least - are now that many future Ubisoft games may be blocked from release in the country. Including Fallout 3.

More through the link.