The Hyderabad office of Google India, housed in the RMZ Futura building, was initially responsible for product QA, Adwords writing for clients and ad quality rating. Now the Hyderabad team will also provide support to Adsense Publishers who are based in India.
That means all your questions related to Adsene Pin Lost or Check delayed or Adsense Policy compliance issues and more will be solved by a Googler sitting in the City of Nizams.
Will this change anything for Indian Adsense clients ? Probably not except that you may expect to receive replies from Adsense team in your working hours (while you are still awake).
I don't think this will have any effect on the overall time it takes for Adsense support staff to resolve your issues or queries. The turn-around time still varies between 24 and 48 hours on an average.
Infact, the Hyderabad team has been answering Adsense queries of Indian publishers for quite some time now, it was formally announced only today by Googler Shanti Nanisetti.
What's exciting here is the bit that says - "We know many of our readers are Indian, so be on the lookout for case studies and tips specifically for you!"
Watch Google India Hyderabad Office on Google Earth - KML
Related: Adsense Case Studies and Optimization Series - Part 1, Part II, Part III, Part IV