Slasher flicks are a genre Hollywood created especially for the teen  audience. Specifically, the 'date movie' crowd who came into theaters  more to hang onto each other than the storyline.
The film which  started the trend is thought to be Halloween (1978) - but it had relatively little blood and not that many dead bodies. Friday the 13th  is what really set the 'standard' and sparked off a spate of horror flicks. 
'Nightmare  on Elm Street' was my first slasher film I saw. I remember seeing it at the  now-defunct Picture Palace cinema when I was in class 9. A large part of the  thrill lay in watching an 'A' film as an under-18. 
Of course,  over the long run greed resulted in stretching both the 'Friday and  'Nightmare' franchises to breaking point. A rash of yucky sequels all  but killed the horror genre.
Then, Wes Craven (the guys behind  the Elm Street series) made a huge comeback with 'Scream'. The new genre  of horror packed in not just blood and unnecessary sex scenes but a sly  sense of irony. The audience already knew what to expect - and the director acknowledged that by poking fun at the standard 'horror film' plot devices.
The Indian slasher flick
In  India, 'horror' has long been associated with pyaasi aatmas put on  screen by Ramsay brothers. Low budget, cheap special-effect films which  scared nobody, least of all the sophisticated urban youth audience.
But,  as Bollywood was forced to look beyond its standard formulas to attract  the multiplex audience, it looked to Hollywood for inspiration. And  'horror' was one seemingly underexploited genre.
So, Ekta Kapoor produced 'Kucch to Hai' - it flopped. Kajol's sister Tanisha made her debut with 'Sshhh... koi hai' -  it flopped. Then, writer-director Soham released 'Kaal' - with the  blessings of Karan Johar & SRK. Going by the buzz that the film created- it  wasn't a major hit.
What went wrong?
Great Expectations
The  audience was hungry for 'something new', that's for sure. But film  makers are underestimating their intelligence. Ekta cleanly ripped off 'I Know  what you did last summer' - a movie which is a regularly re-run on TV. 2  reels into the film and you knew exactly who the killer was. So where was the fun?
Same  with 'Shhh.. Koi hai', which ripped of 'Scream' but with none of the  style of the original. It was, however, superior to Ekta's efforts in  the technical department. 
Then came 'Kaal' which I must commend for at least trying to be original, although loosely it was a Jurassic-Park-meets-Sixth-Sense. 
The  photography, sound effects and atmosphere building was brilliant. The  casting was good - you felt a lot more interested in the fate of the  characters than in the other two films. And thankfully, there were no  songs spoiling the flow.
Yet, the film met with less-than-exciting reviews and a lukewarm response from the audience. 
I think the 'Karan Johar' association had created the wrong kind of expectations. This just wasn't his brand of film. 
On  top of that, maybe to 'sell' and to have something to air in promos  there were two item numbers ghusaofied in the beginning and end of the film  when credits roll. These had nothing to do with the film and again,  created the wrong expectations in the audience.
Yes, the film was  predictable. A bunch of friends in a jungle with man-eating tigers  supposedly on the prowl. They had to die one by one, the lesser known  the actor, the earlier his or her demise. The surprise element had to  come with the way in which each one died - and the final denouement. The  problem was, that surprise was lacking. 
The 'enlightened' viewer  had already figured out the ending. The less sophisticated viewer thought 'yeh to National Geographic channel lag raha hai' and never  fully involved with the goings-on.
I say this because I saw  'Kaal', with a mixed crowd of papajis,  auntyjis, newlyweds and young people. Half an hour before the movie  ended, patience was lost. When Esha Deol went to fetch water from a well  she's been warned to stay away from, a smart alec shouted, "Sunny Deol ko bhejo - behen ko bachaane ke liye". More hoots, comments and giggles followed. The film had lost it.
All about emotion
I think the classic 'slasher' flick fails primarily because people feel no emotional involvement with the characters.
Maybe  Indians just don't like pointless blood and gore. Blood spilt to save  one's family honour or beat up evil goondas is fine, but to just kill  for the fun of it (which is the essence of a slasher film) is a very  alien concept.
Psychological suspense thrillers have worked -  like Raaz. A one-woman centric film like 'Bhoot' worked. Neither had  bodies piled up, so technically they aren't 'slasher' films anyways. But  certainly Bhoot was scary... In fact it is the scariest Hindi film I  have seen (and I mean that as a compliment). 
Bottomline:  Bollywood is on the right track - that of exploring new kinds of films.  I guess they will just have to try harder to come up with more original  and inventive plots  - whatever the genre they choose to attack.  In  all other departments, they are pretty much at par with Hollywood. 
And yeah, maybe there just isn't that large a 'date movie' audience. Yet.
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