None of the Transcends are ReadyBoost capable. There is one model I think but that's over priced and I've not tested it either. Transcends are cheap and slow.
Look at
SanDisk (The Cruzer Contour/Titanium/Micro series are definitely capable of ReadyBoost, I've used them), and
Kingston (Guess the DataTraveler series are ReadyBoost capable)
There are
OCZ and
Corsair ones too but they are too costly in India
I think you might be able to acquire a SanDisk Cruzer 2GB easily for around 1000/- but am not sure of what's its exact price. Must be near 1-1.5k though.