Yes, power conditioning is important in India. A subwoofer sounds awful, loose and powerless, when plugged into a connector supplying 180 volts instead of 230. This is quiet obvious as this ac with lead to a lower dc after rectification and filtering in a non regulated supply present in most amplifiers leading to a decrease in wattage / punch.
Secondly, loose connections lead to sparking which can be both dangerous and audible.
Thirdly, one needs surge protection, lightening as well as over voltage protection for their costly equipment.
Actually, voltage stabilizers and surge protectors are not power conditioners. There is a separate item which is supposed to clean power. They sell it in countries where power is already stable and clean and the mysterious properties of these items are supposed to make sound much better. And these are expensive items and are considered snake oil by many people. Logic being that once ac is converted to dc, it doesnt matter.