Apart from the inevitable things like better media/entertainment and cloud services, I don't think that there will be a significant change in how we use the Internet with the availability of more speed, because there are so many other restrictions that would make it difficult for some of the interesting things to thrive here.
My hope is that with higher speeds will come better productivity through both being able to do things faster and making things we already do (like video conferencing, facebook, flickr etc) easier, and that services already being implemented in India (e-government etc) will become more pervasive, and I think it will better allow businesses to interact more directly with customers and/or employees too. High-speeds should make it easier to utilize the services which are already available, while providing a platform for people more imaginative than myself to come up with new and interesting ideas.
When I was living in Finland there was a great little startup called floobs which basically allowed you to stream events live & on the fly - you could even use your mobile as a
webcam. Naturally, being Finland, it was aimed at users with
Nokia products (or
iPhones), and they actually had a very nice product. Sadly, the
business model wasn't sustainable.
I think that there would be a lot of improvement in usability of the web, especially India-centric (usually government) sites because waiting for things to download no longer becomes a problem. I do hope, however, that faster speeds doesn't result in more bloat from the web developers and graphic artists.
I used to be fairly well involved in
ArcticStartup and still know many of the people involved, and at our monthly meetups/opencoffees (something I'd like to see happen here too) it was an excellent place for people to throw ideas around and share what they're up to. One of the ideas that I very nearly got involved with was Mysites.com. Mysites was a bit like
Dropbox is now, but before Dropbox happened, and I think it couldn't have existed without high-speed Internet.
I don't have too many ideas myself (though there are sure to be plenty around) but ideally Hayai is able to provide a platform where new ideas can take shape. The original "
what would you do" thread also has a few ideas.