Finally I was able to renew my subscription from iTunes form my iPhonw. But sadly I was did not get the offer what it was opoping me up from desk top or iPhone app that I can get 50% off. I end up paying the full amount
Earlier I had got a link from support with offter 40% discount and payment option cread / debit card did not work from 2 different cards.
The support person confirmend that the payment failure was not due to location from India.