As big as the indian market is, I don't think this is going to have an immediate effect on the btc price. We already know that India has a big BTC userbase and it's growing constantly, but in order for the price to go higher we need to see Bitcoin being adopted on a major scale, especially in India where the crypto market is massive. Hopefully, the crypto users in that country along with the govt can help bring awareness to the general public.
But for now, it's very unlikely that we see any major movements in the btc price because of the indian investors. Maybe in the long-term (unless they're ready to make a significant impact very quickly, of course).