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Reliability impacts the militancy of the unit by a direct amount. Seriously, put a general with bad reliability in charge and go look at the POP. You'll see a militancy hit. (good reliability reduces militancy) I don't think it impacts whether the soldier POP revolts. If the POP revolts, the units created from that soldier POP turn rebel.

So, in order for a revolt in India to stand a chance, you'd have to not only get a big revolt, but you'd also want the UK to have tons of Indian soldiers which join the revolt.

The catch is that rebel brigades do not benefit from the techs you have. So, for example, rebels from a nation with gas defense suddenly forget to wear gas masks, making rebels a joke against anyone with 1900 techs.

Since the hyperassimilation issue was fixed, I think it can be pretty safe to say that virtually all of the troops stationed and being raised in India are Indian. The Sepoy revolt was IRL a large uprising and it was so serious the the Brits disbanded the East India Company over it. When I've seen them in the game they are usually just a unit or two.

I've asked on the forums before and even PMed podcast to let us know how to mod the new movement system but I hadn't heard anything back yet. I think that nations with nationalism problems: Austria, UK, Germany need to be modded to have non-accepted cultures want nationalism a lot more and also be more likely to rise in strong numbers. I think it's a little silly though when accepted cultures go so far to nationalist movements. Has anyone seriously heard of Prussia wanting to secede from the North German Federation? I mean, come on...
 
It's actually not that hard to form India with Punjab, relatively speaking. Punjab can easily become a GP once it Westernises, and then the first time any Indian minor falls to Pan-Nationalist rebels you'll inherit them and become India. Kicking out the British is possible with high army tech (it's not usually their strongest suit), because you can lure them into traps where you massacre hordes of them on the defensive. You'll have cores on Indian minors and can easily annex any you can catch for no infamy, and as long as you take Delhi from the British in your first war, population for soldiers will never be a problem.

That being said, because Westernisation takes so much longer in AHD, it's much more of a grind and you'll be very fortunate to seize all of India by the end of the game, so it's only a challenge for the warfare-minded as you'll not have a ton of time to enjoy building up your empire.