I have modded my 360 which was purchased in India and cannot seem to play all games? Is there any way to fix this by firmware flashing or modchip etc?

I don't think it's possible to change the region. I might be wrong. Firmware flashing won't help you at all with the region.

Yes, this is possible. The Infectus chip and timing attack board will allow you to downgrade the kernel as well as retrieve and change the region (including other things). Check out www.infectus.biz.

You can change the region to ANOTHER region but it is very complicated... (and not something you would want to do again and again)

There is no way to make the console region free.

So short answer is you can change the region but then all the games locked to your current consoles region would no longer work..

so the way out for me is to play pal and region free games. btw, is it possible to know which firmware my dvd drive is on?

No there is not a way to tell which firmware you have in the DVD drive without extract the firmware.

If you are going to do that might as well just upgrade it to the newest iXtreme 1.4 at that point.