The government keeps taking strange actions on crypto currencies over here but I still see people launching ICO every week with a grand press release etc.
You shouldn't if the government is keeping an eye to cryptocurrencies there but AFAIK there's no ban there so it's still good. At first, what's the reason and you came up to an idea that you should start an ICO? You are earning well with cash and do you think there will be people customers who are willing to take part of your tokens? I think if your business is running well, you don't have to run an ICO unless you are starting to become bankrupt and you have to upgrade.
I've read a few conflicting articles about the ICO ban on India. Some say it's banned, some say it's not.
But overall, I agree 100%. You should ask yourself 'why' first and figure out the point of the ICO.
Those articles are really misleading if they are saying that ICO's on India is banned. The banks are the ones who said that they are banning crypto related transactions so if there are articles that remain spreading wrong information, you have to report them and let others know that they don't have credibility on what they are reporting. And with the question of why he needs to figure out the use of that ICO to his business, its still unanswered. We have to wait for him to reply on what's the reason.