Different language on the basis of URL? We all know that its possible in Drupal to set different language on different nodes, but is there any option available from which we can set the language on the basis of URL?

For an instance, we can switch themes in Drupal on the basis of URL:
https://drupal.stackexchange.com/a/816/3808
Check a sample code provided in How to change Drupal's default language programmatically? You can trigger this code yourself based on your requirement.

Another way of doing this can be is 'Use another language than "default" as standard'. And You can find an example of hook_language_negotiation_info() on Drupal 7 default language after translation.