Like most of the others have been saying, it is best to host from the country your from even if you offer services in other countries.

If your from the USA and choose to have your site hosted in india or UK there can be legal issues that are going to be too big for someone on a limited budget or someone that doesn't want to spend the time and money trying to get their data.

I'm assuming your in the USA. If you do business overseas just make sure and pick a good host that has a good connection to the internet so other countrys can connect with quick response times.

Worst case... it make take about 10 seconds for your site to load.

Good Luck,
Chris