ROOT PROCESS : METHOD 2

This method can be used if you don't have a PC to connect the phone to. Frankly speaking, this is the way that one would expect a "smart" phone to operate.

STEP 1 : GET THE RIGHT ROM
This is crucial, since using the ROM not designed for the device can be catastrophic. IN case of more popular brands you can find many ROMs floating around the net. In case of Karbonn, the best source is to check the xda-developers.com forum dedicated to the A5 and A7. If all you want is a pre ROOTED default ROM, note that you should look for this specifically. Not all ROMs are the default ROM even though they may be preROOTED.

STEP 2: DOWNLOAD THE ROM TO PHONE
You can directly download the ROM (usually a zip file) to the phone (HOW?.... Duh?), or download it to a computer and transfer it to the Micro SD card and then insert it into the phone. Just note the location of the file on the card..

STEP 3 : LAUNCH PHONE IN RECOVERY MODE
This is the Red screen that appears when the Vol up and Power buttons are depressed for about 15 seconds while powered down.

STEP 4 : UPDATE
In the recovery menu (if you have modified the stock boot menu with CWM then the latter appears), select INSTALL UPDATE FROM SDCARD option. The navigation and selection keys are the Vol Up, Vol down and POwer keys respectively. Scroll through the SD Card and select the downloaded ROM file. Next, sit back and relax. The flashing takes about a couple of minutes after which the phone can be rebooted.

PRECAUTIONS
Ensure the phone has enough battery backup before you begin.
The stock boot menu in Karbonn doesn't have the backup and restore option, seen in CWM menu. So you will be unable to revert to the older system without repeating all the steps above with the Stock ROM, and even then your apps and settings will be lost.

IT HAPPENED TO ME
The Stock Pre Rooted ROM mentioned in the first page of the A5 & A7 thread in xda-developers.com forum didn't boot, so use it with caution. The ICS themed ROM on the same page worked perfectly, butalong with bloat, essential apps like a File Manager are missing. One can install an app for this job from Google Play store, except that even that is missing. So you need to use the inbuilt browser to download the apk file and then install it. In my case, the downloaded version of Play wasn't compatible - as it crashed everytime it was launched. So, I have reverted to the backup I had taken before I started this project (backup through CWM).