Dear real.phoenix,
Kindly search " Open box " on eBay.com, you will see a lot of listings, are theses also Grey Market PRODUCTS.
I have sold 200 Videocon DVD players without any warranty, I think according to your calculation it was of grey market too, right. In spite of the fact that Videocon is an Indian compnay.
If you order a Sony camera from Dubai online & also pay the duty then still you will not get Sony India warranty. It means it was also grey market product. I have been in electronic business for the past 38 years, and without manufacturer warranty doesn't always means it's a grey market product. Go and buy Mitashi product in Mumbai, you will get manufacturer warranty, but try to buy same product in small city in UP, you will not even get dealer warranty on it.
Recently I purchased an OGeneral AC with Tax invoice & Vat but without warranty, because it was imported one & not OGeneral India product.
It's very simple " Jo dikhta hai woh hota nahi hai aur jo hota hai who dikhta nahi hai".
With Regards
Shaikh
eJewel India