I love bags - both day and evening and I worship the classics and follow the trends. Having a fair amount of exposure to the Page 3 crowd in India - here is what I have gathered are the top 3 day bags and top 3 evening clutches:
Day Bags:

The most coveted bag in India (and world wide) has got to be the Hermes Birkin. These bags start at approximately $10,000 a pop. The exotic versions costing almost twice as much. I would love to get my hands on this bag in it's classic orange Hermes color. Apparently in the US, there is a wait time of approx. 1 year to get this bag (from the time you order it)

The most classic bag of all times has to be Chanel. The Chanel bag is iconic and ageless!!! It never goes out of style and looks good no matter what the age of the person carrying it is. This is one bag that is worth spending the big bucks on cause it will last for generations to come.

And the "IT" bag currently is the Balenciaga. Since last year, the demand for this bag has escalated and it seems to be the flavor of the season. Also the most reasonable bag of the group - it starts at around $1200.
Evening:

The top evening clutch from time in memorial is the Judith Leiber. Most of the Maharani's of the era's gone by boasted of their large Leiber collections. Of the current lot, Shilpa Shetty can claim to have the same.
The other very popular clutch is the BV Knot. It comes in a delish array of colors and many of our divas boast huge collection.


A recent entrant on the scene has been the Alexander McQueen clutch. This clutch and it's sister, the Knuckle Box Clutch, are seen carried by the younger edgier crowd.
So now you have it - your cheat sheet on the bags of the moment!!!!