What Blu
BDs store full HD movies, in the form of BD-ROMs, just like DVD-ROMs. There are BD-Rs and BD-REs (rewritable) too, for burning data and stuff. The video formats read by players and stored on BDs are MPEG-2, MPEG-4 AVC (H.264). For audio there are quite a few formats: Linear PCM, Dolby Digital, Dolby Digital Plus, Dolby TrueHD, DTS Digital Surround, DTS-HD. Data transfer rate is 36 Mbps at 1x speed; this is specified by the BDA.
Interactivity has also been improved, with the addition of BD-J, or Blu-ray Disc Java, which has killer stuff like picture in picture, access to the net and more! On a serious note, copy protection standards included in BD are AACS (Advanced Access Content System), BD+, ROM-Mark and the familiar HDCP. But There are claims that AACS and BD+ have already been cracked... maybe that’s why so many high def movie are already available on the net.
Allow me to add a note on Blu-ray player profiles, as when you buy your player this will become important. There is BD 1.0, BD 1.1 and BD live 2.0. Currently profile 1.1 is being released, which requires 256 Mb of local sorage, extra audio and video decoders, but no guarantee for web-enhanced content. BD 2.0, on the other hand, has this.
Remember regions? BD has them too, though only three this time: A (green), B (orange) and C (red). India is in region C.
Who Blu
Enough technical stuff; lets see what movies are coming our way, and who is supporting and producing Blu-ray. Sony is naturally one of the pioneers, and most Hollywood studios supported it all along: Warner, Paramount, Fox, Disney, Sony, MGM, and Lionsgate. Universal was in the HD DVD camp, though now it had better switch!
When it comes to hardware, the list is long. These are a few of the major names: Sony, Panasonic, Philips, Samsung, Pioneer, Sharp, JVC, Hitachi, Mitsubishi, TDK, Thomson, LG, Apple, HP, and Dell. Microsoft supported HD DVD, though now it had better switch as well!
Famous players available in India include the PS3 (duh), apart from Sony's BDP-S300 and BDP-S1E. Then we have LG’s BD100, Samsung’s BD-P1400 and BD-P1000 (manufacturing has stopped already, I don’t think they sold any here).
Conclusion
I guess its time for us to accept the format and enjoy HD content. Prices of individual discs have not been decided, but will initially tend to be a bit pricey. Though we can be sure that prices will fall sooner or later, as it always does in the case of any kind of electronic devices.
The info provided is good but Indian need to wake up from penny wise pound foolish when it comes to computers. They want cheap and hence cannot get good things. 
