i think is very good information if india country ready regulation bitcoin
but is not big impact to bitcoin price, if USA reagulated bitcoin, is very big impact to bitcoin price
because USA super power country, and big exchanger from USA, sample poloniex, bittrex and coinbase
It would still have an impact wether it's a big country or not. That would leave or have a good impression on bitcoin still. Adding them on the list of country regulating or legalizing bitcoin is a good one because other country might follow, big or not as long as they see other country doing that.
Technically also India can be determined as a big country, not necessarily rich but still it would make a great campaign for Asian countries adopting bitcoin. A lot of Asian countries lately are having bitcoin in the news this past couple of months. Even if the US is the center of trade even in bitcoin it is still a big issue on how many countries will accept rather than legalize it totally.