Yes, maybe Google thinks that quality is low, but what's getting me really worried is that even in search suggestions, it just completely replaces "shoppingiwish" with "flipkart" the moment I start typing the second term after "shoppingwish". Never seen that happening before! I doubt that competitor is doing anything to target us because they are frankly just too big to be going after us specifically. Perhaps some inaccuracy in their synonym mining algorithm?
Agree with your suggestion on the URL, we started on the wrong note, but working on fixing that. Hopefully that's not the only reason why google thinks the site quality is low and just associates us with another domain.