I came across numerous posts here on similar problems (at times it requires several cranks before it is started). A number of those posts were mine. I believe I have resolved my starting problem and here is how I did it, thanks to Graham who advised me how I should do it. It worked. It was a 5-10 minutes job.

1. Release the steering wheel column adjustment lever and extend the steering column by pulling it towards you until it stops.
2. Remove the three screw on the lower steering wheel column cover. The upper cover need not be removed but has to be raised back. The lower cover has to pass through the ignition barrel so take care.
3. Behind the ignition switch is the antenna ring and there are four cables connecting to it via a "clip". Depress this clip and remove it from the antenna ring socket.
4. Please do not try to pull the cables out of the "clip" as I was told that it is not possible. All I did here was to ensure connections between the cables and the clip is good bu checking each cable individually and if necessary making some adjustments. I was told to use contact cleaners to get better results (which I did not, but you may want to try).
5. Re-assemble the clip back into the antenna rings and then the covers.

It has been two weeks now and the car starts at the first turn of ignition. So please try this before deciding on the antenna ring.