From research, it appears there are currently 58 countries that will grant Indian passport holders entry to their country without a prior visa being allocated. Some of these countries do issue you a visa once you've arrived when others do not. There are also varying timescales in which you are allowed to stay in each country for as a visitor or on a visitor-type visa.
According to Wikipedia "Indian citizens are granted to visa-upon-arrival in 33 countries and territories, while a further 28 countries and territories are accessible visa-free."
The following webpage at en.wikipedia.org/wiki/Visa_requirements_for_Indian_citizens has a comprehensive list that will show you all the countries that are accessible with an Indian passport and for exactly how long you are allowed to stay and if they will give you a visa on arrival.
If you are still unsure about a country you wish to visit, but may not have been included in the list, then although it is likely this means you will need to apply for a visa it is worth asking at the embassy for that country. They should be able to give you the most up-to-date information about what you would need to do to gain access to that particular country.
You will also find a lot of travel websites and books such as Lonely Planet will have tons of useful information about the country you wish to visit and will state what you need to do to be granted access to this country.
The following information has been acquired from different websites and details from a research for the countries which permit Indian passport-holders to enter without a visa or by obtaining a visa upon arrival.
However, I am going to break it into several answers to accomodate the maximum word limit.
ALBANIA Visa required, which can be obtained on arrival if holding confirmation from Albanian Ministry of Interior stating that visa will be available on arrival. Confirmation must be obtained before departure to Albania.
AZERBAIJAN Visa required, which can be issued on arrival for a max. Stay of 30 days. An invitation is not necessary but it is recommended to hold a document that shows the purpose of the visit. Visa is only valid for the cities listed in the visa.
BAHRAIN If travelling for business purposes visa can be obtained on arrival, but this is subject to Immigration evaluation.
BERMUDA Visa not required. Bermuda Immigration officers will decide on max. Period of stay (up to 6 months) depending on reason for travel. Stays exceeding 6 months require application for residency in person.
BHUTAN Visa not required for a max. Stay of 2 weeks, provided permit is issued upon arrival by Immigration Department.
BURUNDI Visa required. However, visa can be obtained on arrival, if no diplomatic representation of Burundi is located in country of origin.
CAMBODIA Visa required. However, visa can be obtained on arrival, if coming for: - touristic purposes for a stay of max. 1 month. - business purposes for a stay of max. 1 month.
CAMEROON Visa required. Visa on arrival can only be issued to those holding a prior approval from Le Diligue General de L’Immigration.
CANADA Visa required. If entering from the U.S.A. With a used single entry visa, the visitor may re-enter without obtaining a new Canadian visa, provided the I-94 from the U.S.A. And the Canadian port stamps are still valid.
CAPE VERDE ISLANDS Visa not required if: - Passenger was a former national of Cape Verde Isl., incl. Wife, husband or children provided holding proof thereof; - travelling as tourist in organized group and holding Certificado Colectivo de Identidade et Viagem (no limit for number of tourists). Individual passengers coming from countries where no diplomatic representation of Cape Verde is established may obtain visa on arrival.
COOK ISLANDS If visit is solely for touristic purposes visa not required for a stay of max. 31 days. If visit is for business purposes (which may include acting for or on behalf of a person/firm established outside Cook Islands) visa required (which can be issued on arrival), for a stay of max. 21 days.
COSTA RICA Visa not required for a stay of 30 days.
CUBA Visa required. If coming for touristic purposes and holding Tourist Card (”Tarjeta del Turista”): Visa not required.
DJIBOUTI Visa required, which can be obtained on arrival provided holding return ticket, for a max. Stay of 1 month.
DOMINICA Visa not required for stay of max. 21 days.
EGYPT Visa required. However, a 14 days visa -free of charge- can be obtained on arrival, if entering Egypt via South Sinai (through Sant Katherine, Sharm El Sheik or Taba airports), provided: - remaining in South Sinai resorts; and - not continuing to any other city in Egypt. See Comments for the continued answer....
You will be surprised as to the number of countries you can travel to without a visa(or obtain one upon arrival)...follow this link for a complete list...mutiny.wordpress.com
Except Nepal, it is very hard to say...as very often rules changes. Yes some small island countries are in the list (available in net....but highly recommended to check that embassy). In general most of the countries (where you have a job place or good travel plan) do not allow Indians without VISA. I faced many problems while travelling in South America and Central America.