Yes, hospice care is available, but is not covered under any medical insurance, and it is mostly for cancer patients. There are about 138 organisations across the country providing hospice and palliative care services, and these are concentrated in large cities (Khosla et al., 2012). The state of Kerala is an exception, as it has 60 hospice units for a population of more than 12 million (Kumar,  2007).

References:

Khosla, D., Patel, F. D., & Sharma, S. C. (2012). Palliative care in India: current progress and future needs. Indian Journal of Palliative Care, 18(3), 149–154.

Kumar S. K. (2007). Kerala, India: a regional community-based palliative care model. Journal of pain and symptom management, 33(5), 623–627. https://doi.org/10.1016/j.jpainsymman.2007.02.005