@Kiran_DesaiMay 18.2016 — #I don't think using hreflang tag will help to reduce bounce rate. It can help to reduce bounce rate upto certain extend, as any person from countries other than India, will come across with the website in their language. So bounce rate will reduce as they will navigate to the website if they find the landing page informative.
@raselmdMay 18.2016 — #Multilingual sites can reduce bounce rate if you can redirect pages for different countries for reducing bounce rate you should make your content proper for your viewers and make website more easier to understand.