Hi elpgal, I'm of the Indian "wheatish" complexion with the dark undereye circles too! I've spent a lot of the past year tooling around with makeup and skincare, and here's what's worked for me with regards to hyperpigmentation issues:
1. Sunscreen. I don't know why they don't make a big deal of this in India, but south asian skin is very very prone to hyperpigmentation and the only thing that will protect against it is wearing a daily broad spectrum sunscreen, even when indoors. I've been doing this for several months and my acne-related hyperpigmentation is finally fading fast. (Also, what we think of as aging skin, i.e. wrinkles, crepe-y texture, etc. is mostly sun damage caused by UVA exposure. Nothing will ward it off as much as devoted sunscreen use will!)
I don't like the formulation on most american sunscreens (too greasy and too smelly), although EltaMD's UV Clear is probably the least offensive of the lot. Daily sunscreen became a lot more pleasant for me, though, once I found Biore Aqua Rich Watery Essence. It's broad spectrum, feels so light and nice on the skin, and winds up smoothing out my skin enough that often I don't need to bother with primer under my makeup.
2. Serums. I use a Vitamin C serum in the mornings, and a Niacinamide serum at night. Both products help brighten skintone and repair the skin barrier. Both also help a great deal with hyperpigmentation. I make my own serums at home, but I've used Olay's Regenerist serum (loaded with niacinamide) and liked it in the past.
3. Azelaic Acid. Currently prescription only here in the states, but my dermatologist put me on Finacea for acne, and it's absolutely wonderful for my skin. It fades pigmentation, increases cell turnover, and provides gentle chemical exfoliation.
4. Chemical Exfoliants. I'm using these less now, because I'm already on Finacea, but a daily application of salicylic acid and lactic acid is great for hyperpigmentation. I use Stridex Maximum Strength (red box) for the salicylic acid, and St. Ives' Scrub-Free Exfoliation Pads for lactic acid.
5. Avoid physical exfoliation. Most of the scrubs out there cause micro-tears in the skin (St. Ives Apricot scrub, I'm looking at you, with your jagged-edged crushed walnut shell pieces), and the resulting inflammation just leaves us with more hyperpigmentation and compromised skin barrier function to deal with. If you must have some means of physical exfoliation, a damp microfiber towel is your best bet.
--
In terms of makeup, I got a good match from the Bobbi Brown Long Wear Even Finish foundation line, and I cover my undereye area with this foundation mixed with a bit of MAC Select Cover Up concealer. Setting the concealer with some powder after application helps keep it out of my creases. Initially, I found the foundation too thick for me, but buffing it into my skin with a stiff, dense brush makes it look very natural. I do a couple of layers where I need it for my hyperpigmentation.
I also found a fairly acceptable skin tone match from the Missha Perfect Cover BB Cream line, although I have to mix two shades (27 and 13) to get it. The coverage on this cream is phenomenal, although again, I have to be careful to buff it out of creases and set it with powder. (Seriously, this stuff looooooves creases, but if you can get the buff/powder thing down, it's well-behaved for several hours.)
Also, a note about BB creams: I think of them as just foundation, not skincare/suncare products, which, if you look at the ingredient list, is pretty much how they're formulated. I use a separate sunscreen because there is no way for me to use enough BB cream to get the SPF coverage advertised. The standard for sunscreens is 1/4 tsp of product for the face alone, and another 1/4 tsp for the neck to get the SPF advertised. I've measured this out and it's easily 2-3 days worth of BB cream (or foundation) for me!
Whew, and whoa, that's way more than I thought I was going to write. I love the cosmetic science aspect of makeup and skincare, so it's easy for me to go on and on and on (as seen here.)
