So, as USUAL, I'm the one who is going to set it all straight and iron out the confusion eh?
Nope guess what? It's not gay. You have to understand the Indian culture is totally different. You didn't know that in Italy, non-homosexuals men hold hands too? Or they used too, until the LGBT asshoes in American communities gave hand holding the bad rep for Eastern cultures etc. Even married men who fuck all the time, I think some of them hold hands too for a short while. And in the lower slum classes/castes they also hold hands.
What you are seeing is the happiness two brothers, or cousins or buddies have looking out for each other etc etc. The people you asked are correct, it's not really sexual gay behavior. (wait you asked them in India, I though you live in the West?)
I wouldn't ever do it, but that because I'm a Westerner, and in our culture, that does signify faggot behavior.
Anyway, I think that it is becoming less and less cause of Western cultural influence, so I haven't really seen men doing it anymore where I am.
@Misogynist Curry 卐 , are you immersed in your culture enough to do this? Don't your buddies or family members do this sometimes? I'm sure you've seen non-gay curries in Delhi holding hands.