Privacy could be obtained with a screen, placement of potted plants, an open bookcase, but I like your idea for a curved track with a curtain as one option for visual privacy. I would rotate the dining table 90 degrees and move it towards the balcony. I would remove those two chairs/tables because the layout of a single chair that far apart from another chair does not work. You may need to move the seating away from the main entrance because it looks like you walk in and you're on top of a loveseat. In such a tight space with so many doors that open in to the main living/dining - my advice is to keep it simple. Scale the furniture properly and have pieces that are multi-functional. Example- an ottoman that can serve as seating. A bench at the dining table to seat 3 on each side. I would also place two smaller loveseats facing each other in front of the fireplace. This will give you an "entry area" (along the back side of the kitchen wall) and help to define the living from dining rooms. Even if you don't have a formal entry, try to create a bit of space to welcome people.

OK... but the wire wont be lower as it is fixed now. The wire in the pics below is the wall facing each other. They were leveled on equal height but the beam on one wall makes it seem a little above. But i think you guys are absolutely right that up and down lights wont look good there. I think you are right about down lights lessismoore. Would it look good if i go with two different lights on opposite walls??? it would look odd right.

Your setting is good but could be better.the centre table is a misfit.you can use 2 level rectangular table either white poly paint one level and the other level glass or black paint or poly paint.keep the length of the table after leaving approx 16 to 18"on either side.the width can be20-22 " and ht 16".the cushions can be change to black and white design,with a dash of red.a nice rug with grey,black and white geometric design will enhance the effect.brown does not go well with white.i hope this should solve your problem.once you make this change.you eye will pick up the other flaws.

@Cornerstone design studio: Apologies for making big post; thought that more info will help. @Rupal ji, If it sounds like I dont need any changes; my apologies for that. Let me put it in short,"I am looking for options that give modern facilities without leaving good things from old charm/ comforts. " Thanks for the straight forward comments. I shall try to edit my original post to make it simpler and that looks open to new ideas.