Just try to put yourself in that person's shoes who lost his mobile. Had you lost your phone, how would you have felt? Losing such a thing like mobile is not same as losing money. These days our mobile phones have become an essential part of our life. How handicap we feel without mobile. No one remembers the phone numbers of their contacts. They are all stored in the mobile sets. If you lose your mobile, how inconvenient life becomes as you lose touch with your friends and acquaintances.
My appeal to you would be to just switch it on even if you don't want to talk to the people in contact list who can help you return the phone to the owner. If the phone is switched on, the person may try to contact you. Or a good idea would be to look for family members. They are usually stored with the names: PAPA, MOM etc. or a name like HOME. Don't bring your animosity with the people of a particular region in this matter. In fact, if that person finds that you helped him get his lost phone back, it would send very positive signal. After all we are all Indians.
I once again appeal you to try to contact the owner and return the phone. I'm sure you'll find better objects to use as paperweight!