Pajama Veshti

Meaning: The panchakacham style veshti that's tucked in between the legs to give it the appearance of a solemn pajama.
Pronunciation: Obvious.
Usage: Ram from Kansas was looking his Kumbakonam self in the pajama veshti that he was forced to wear during the wedding ceremonies.
Root: Self explanatory.

Bibliobanophobia

Meaning: The fear of the consequences of reading or writing a proscribed book.
Pronunciation: Bib-leo-ban-no-fo-be-yeah.
Usage: The UPA has stoked the fires of Bibliobanophobia in the Jaipur Literature Festival, all for some votes in Uttar Pradesh.
Root: Self explanatory.

Missguise

Meaning: To dress up like a woman.
Pronunciation: Miss-guys.
Usage: Every Indian actor loves a role where there's scope to wear a missguise.
Root: Miss (a lady) + Guise (external appearance)

Gluteus Flammeus

Meaning: Euphemism for arse of fire.
Pronunciation: Glue-tea-yes-flame-me-yes.
Usage: After the Adelaide debacle, Viru needs to worry about his gluteus flammeus.
Root: Gluteus (short for Butt) + Flammeus (latin for fiery).

Twinyear Day

Meaning: When DD-MM matches YYYY of the year, that day is called Twinyear Day.
Pronunciation: Twin-year-day.
Usage: 20/12/2012 is going to be the last Twinyear Day of this century.
Root: Self explanatory.

Eisoptrography

Meaning: The art of mirror writing.
Pronunciation: Esop-tro-graf-fee.
Usage: Leonardo da Vinci was a master of painting, science, mathematics, engineering, botany, geology, cartography and eisoptrography.
Root: Eisoptro- (Greek for mirror) + Graphos (greek for writing).

Balliloquy

Meaning: Making the cricket ball talk with an awesome display of movement and bounce.
Pronunciation: Ball-li-lock-kwi.
Usage: Peter Siddle's balliloquy was in full display at WACA.
Root: Ball + Solliloquy (an artistic expression of self using monologue).

Truegality

Meaning: Economy of truth.
Pronunciation: Tru-gal-lit-tee.
Usage: PC's truegality will be his undoing in February.
Root: Frugality (miserliness) + True (factual).

Flabrication

Meaning: The act of making a thing/person appear fatter.
Pronunciation: Flab-brick-kay-shun.
Usage: Vidya Balan is playing a pregnant woman in Kahaani. Her look needs plenty of flabrication.
Root: Flab (fat) + Fabrication (manufacturing).
Other derivations: Flabricate, Flabricated, Flabricating.

Claymason

Meaning: One who can create magic with claymation.
Pronunciation: Klay-may-sun.
Usage: The claymasons at Vaibhav Studios deserve all praise for the Amaron batteries work that won a lot of acclaim.
Root: Masons (builders) who work with clay.

Dieman

Meaning: One who has lost the will to live.
Pronunciation: Die-man.
Usage: When you're stuck between life and death, you become a dieman.
Root: Self explanatory.
Coinage: Word coined by my 7-year old nephew Adit Pushan.

Jaathbreaker

Meaning: One who renounces caste.
Pronunciation: Rhymes with pathbreaker.
Usage: We need more jaathbreakers for Hinduism to reinvent itself.
Root: Jaath (Hindi for caste) + Breaker (an iconoclast).

Slackberry

Meaning: Delayed transmitter of information.
Pronunciation: Slack-ber-ree.
Usage: The world was a happier place in the times of the postal slackberry.
Root: Slack (slow) + Blackberry (an instant message device).

KeyLPD

Meaning: The disappointment of discovering that you've used the wrong key for the right lock. Basically, KeyLPD is Key Lock Pairing Dissonance.
Pronunciation: Kee-El-Pee-Dee.
Usage: After the drinking binge, we headed to the car. I tried to open the door, several times. Unfortunately we couldn't, as KeyLPD happened.
Root: KeyLPD = Key + KLPD (a campus slang for frustration).

-ha

Meaning: Suffix notating 'and a half'. Represents the same value as the decimal 'point 5'.
Pronunciation: Ha.
Usage: Two and a half can be shortened to twoha and seven and a half to sevenha with the new -ha suffix.
Root: Ha is the phonetically useful half of the word 'half'.

Neatpicker

Meaning: A tidiness freak who keeps badgering people about their hygienic peccadilloes.
Pronunciation: Neat-pick-kar.
Usage: In all of my 40 years, I haven't yet come across a male neatpicker.
Pronunciation: Neat(clean & orderly)+ Nitpicker (fault finder).

Sareegar

Meaning: A saree smith.
Pronunciation: Sa-re-gur.
Usage: It's indeed strange that none of our traditional sareegars have chosen to make a brand out of themselves.
Root: Saree (the attire of women in India) + Karigar (Hindi for craftsman)

Pluggage

Meaning: All the additional plug-ins, downloads and apps on your machine.
Pronunciation: Plug-age.
Usage: My hard disk is full. Now I have no other choice but to let go of my pluggage.
Root: Plug-in (add on software) + Luggage (a hold all for personal belongings).

Phenyl Glugger

Meaning: Sucker for freebies.
Pronunciation: Fin-nyle-glug-ga
Usage: Pork barrel politics will be the norm as long as voters are phenyl gluggers.
Root: From the colourful tamil expression: "Avan free-ya kudutha phenyl-ayum kudipaan (if it's for free, he'll even drink phenyl).

Geomartians

Meaning: Earthlings who've moved to Mars.
Pronunciation: Jiyo-marshy-yens.
Usage: In fifty to hundred years, the first Geomartians would hopefully set foot on the red planet.
Root: Geo (Earth) + Martian (residents of Mars)

Reallygion

Meaning: A school of thought that believes Earth is the only heaven and the only path for reaching this goal is to create a happy reality through good old hard work, persistence, beauty, humour and sincerity.
Pronunciation: Really-jun.
Usage: Groucho Marx, Isaac Newton, Kishore Kumar, Don Bradman, Madonna & Marilyn Monroe are some of the gods and goddesses of Reallygion.
Root: Derived from the 'religion of reality'.

Squad Erat Demonstrandum

Meaning: The Logic Nazis.
Note: Squad Erat Demonstrandum is to be used in the abbreviated form. As in, SED.
Usage: The SED revel in score debating points. The only way to beat them is to be irrational.
Root: Squad (a clique)+ QED (a term used at the end of a carefully constructed proof based on logic).

Twinsitu

Meaning: Being in two states at the same time.
Pronunciation: Twin-sit-too.
Usage: Heisenberg was the first to pinpoint the twinsitu nature of beings.
Root: Twin (two of the same origin) + in situ (Latin for on site) = one identical being in two different sites.

Paytheist

Meaning: One who believes that bribing gods can work wonders.
Pronunciation: Pay-thee-yist.
Usage: Students in India turn paythiests before exams and atheists after the results.
Root: Self explanatory.

Samakatti

Meaning: Cube.
Pronunciation: Sa-ma-cut-tee.
Usage: Gana Sadhuram is the tamil term for a cube. Literally, that means 3-dimensional square. But not all 3-dimensional squares are cubes. So I am proposing Samakatti as it at least captures the soul of a cube.
Root: Sama (Tamil for symmetric) + Katti (Tamil for block)

Billfering

Meaning: To steal in small amounts by overcharging a bit.
Pronunciation: Bil-fur.
Usage: In bars and pubs, where no one's in a position to remember what they consumed, the management might be tempted to indulge in some harmless billfering.
Root: Bill + Pilfer.

Whohickey

Meaning: A person whose name the speaker cannot remember.
Pronunciation: Who-hic-kee.
Usage: Some whohickey came up to me and asked for my car keys. I assumed he was the chauffeur. How am I supposed to know that he was a car thief?
Root: Doohickey (a thing whose name the speaker cannot remember) + Who (a person).
Note: Whohickey is synonymous with Whatshisname.