Hey Raja, The mountains in pin Parvati valley are no lesser to rainbow mountains in Argentina ... You can see them on the way to mudh Village from kaza or from dhankar valley ... They are mixture of many colours and are soothing and also majestic ... Well I don't think dre are more colorful mountains compared to them in India ... Happy Travelling Bro!!!
Not Exactly similar to that but there is a mountain range on Leh-Manali highway which has different shades like red, pink, grey, magenta. Put this on google map search: 33.771352, 77.683252