This is what I got from Wikipedia.org
The Arabic letters of the opening phrase of the Qur'an (the Basmala phrase Bismillah al-Rahman al-Rahim "In the name of God, the Compassionate and Merciful") sum to the numerical value 786 in the system of Abjad numerals. Not all Muslims place emphasis on this numerological analysis, but some Muslims in South Asia use the number 786 as an Islamic symbol, and some Muslim scholars and groups (such as the "Qur'an-only" Submitters) consider it to be religiously significant.
There have been various speculations about the mystical or religious significance of 786 in Islam for centuries. There is a famous poem praising Allah, titled Bismillah al-Rahman al-Rahim, which has exactly 786 letters. Some have argued that 786 is the number of days in which Allah created the world or the number of days in which Muhammad conquered the pagans of Mecca in 786 days.
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Using the source given by Soruj, take note of this:
I never quite understood the idea behind the number "786". Is it possible for you to explain its significance at your earliest convenience? (Asim)
A 2. "786" is the total value of the letters of "Bismillah al-Rahman al-Rahim". In Arabic there are two methods of arranging letters. One method is the most common method known as the alphabetical method. Here we begin with Alif, ba, ta, tha etc. The other method is known as the Abjad method or ordinal method. In this method each letter has an arithmetic value assigned to it from one to one thousand. The letters are arranged in the following order: Abjad, Hawwaz, Hutti, Kalaman, Sa'fas, Qarshat, Sakhaz, Zazagh. This arrangement was done, most probably in the 3rd century of Hijrah during the 'Abbasid period, following other Semitic languages such as Phoenician, Aramaic, Hebrew, Syriac, Chaldean etc.
If you take the numeric values of all the letters of the Basmalah, according to the Abjad order, the total will be 786. In the Indian subcontinent the Abjad numerals became quite popular. Some people, mostly in India and Pakistan, use 786 as a substitute for Bismillah. They write this number to avoid writing the name of Allah or the Qur'anic ayah on ordinary papers. This tradition is not from the time of the Prophet -peace be upon him- or his Sahabah. It developed much later, perhaps during the later 'Abbasid period. We do not know of any reputable Imams or Jurists who used this number instead of the Bismillah.
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From what I could gather, the number 786 was adapted by South Asians...It did not originate in the Qur'an, but was merely a cultural change.
IMO, as long as you don't harm anyone, there is nothing wrong with adaptation of a religion to one's culture.
Mahayana Buddhism in China/Japan is different from Theravada Buddhism followed in Sri Lanka (which was developed by Siddharta Gautama).
Zoroastrians in India insist on wearing Saris to weddings and initiation ceremonies (the sari is not an Iranian/Persian outfit).
I am not qualified to say if anything is Islamic or Non Islamic, but I dont see anything wrong with Bismillahurahmanurahim being replaced with 786 as long as one's heart and mind is pure.
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