Doordarshan is quite cool

If you're looking to watch the olympics online.. and NBC or BBC don't allow you to watch it live. You could just log onto

http://www.ddinews.gov.in/DDNews/rplayer.htm

Though since it is DD, you have to bear with the the nonsense commentary and studio commentary. Though once they get over the discussion, they pretty much show the sporting events. At least they don't have issues to view their live feed.