This is a sort of a deja vu thought but I'm going to write it anyway.
And you really shouldn't miss looking at the Ubuntu Community bounties - you could get paid for working on Python scripting interfaces for OpenOffice, Blender, AbiWord, Gnumeric, and GIMP. Of course, it doesn't matter where you live if you want to work on these bounties :)
Damn, I wish these kind of things had happened when I was a student....
Not totally unrelated, I'd like to stress that Yahoo! Bangalore is looking for good people with MySQL knowledge.
Open Source pays. Truly.
Update on June 27, 2009 : 4 years after writing this entry, I still get questions regarding Python Jobs in India. I think the best places to start looking for them are pythonjobs.blogspot.com, Bixee Python Job list and Official Python website's Job Listings.
Update on July 21, 2011 : Also taaza.com.