There's a lot of merit in what members like Propellant and Jijo say. But it's important to consider the matter in totality. Did he proffer a hand in the initial stage? If so, then it's okay to shake hands at the end of the interview. But be smart enough to assess his/her attitude before offering your hand! Indian MDs, especially the older ones, tend to be conservative. So watch your step before extending your hand!
Regards,
Yes, I agree with you. Our MDs and CEOs can be egoistic, self-aggrandizing, and narcissistic, to the extent that they may consider it beneath their dignity to shake hands with an interviewer. Please beware, lest you are perceived as foolish, and you may be excluded from consideration.