I quickly checked for parcel forwarding service from India. http://www.indianmailbox.com has a shipping rate calculator. For Italy a parcel with 0.5 kg would be around 55$ (as far as I get it setup fees for the adress are zero if you cancel the address within a month). So delivery to Italy would be around

75€ for the phone
50€ for shipping
28€ for VAT
16€ Duty and Tax Forwarding Charge (UPS Italy)
----
169€ Total

Even if 169€ seems reasonable for me (the price is the same as for the Jolla C, sorry, community program) it seems risky to me and some questions remain (eg.: are international credit cards accepted on ebay.in, ...)

I will wait for sellers with decent price and good seller raiting who deliver to the EU directly!