Some research on the web told me to look for various products that are simply not available in India or cost too much. So I worked on the problem myself and here's the solution!
First, clean the affected parts with a kerosene soaked rag or sponge. Rub thoroughly using SMALL CIRCULAR MOTIONS. This will remove the wax to a large extent.
Once the parts dry, if there are still any white stains, use a soft pencil eraser and rub away the remaining stains. Any eraser will do so long as it's soft and meant for pencil marks.
This is a bit tedious but it works and costs almost very little money.






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