I have done what Mike_Mackin said
And it is indeed a very good idea.
I believe its especially good for us Indians because most of the e-comm savvy markets are in US,Canada and Europe. Collecting orders from web site is fine but shipping costs, customs and the 'documentation required for exports' hassles have prevented me so far from running my own shop. Tying up with webmasters in those countries and getting a share of the profits works very well.
Though I would love to hear from any other Indian out here who has tried it :)