I want to run on-air-radio channels in my laptop, just like we run MP3 using VLC Media player, Windows Media Player, or any other.
Is there any way to do that, what hardware or software are required
Or Is there any way with which I can just install a software and using internet I can listen (tune) radio station in my laptop?
You can listen to streamed audio from websites without any special hardware.
A lot of radio stations stream their output to the web as well. For example, here in the UK the BBC do it via their iPlayer - unfortunately you won't be able to listen from India.
If you search for "internet radio" you should find some links appropriate to your location. In fact "internet radio india" turned up this page as the first result.
Chris already mentioned that you don't need anything special, other than channels to listen to.
The following internet radio players will all support mp3 internet radio stations
You can, of course, listen to many (many) internet radio streams, but it sounds like this is not what you are asking.
If you are interested in a local station, and they don't stream their content online, you need to connect a radio receiver to your computer. As a random example, take a look at this. Search your local computer parts provider for "usb fm radio" and you will undoubtedly find alternatives.
On a practical note, unless you need to switch channels in software, using a real radio, maybe connected to your computer's line-in input, would be easier and cheaper.
Probably not preferred, but this is still a cheap option: You could use a separate radio (with antenna) to receive the radio then use a 3.5mm auxiliary cable from the headphone jack of the radio to a microphone/input jack of your PC to listen or record it. VLC can handle the recording.
