India is actually my favorite region, though that may change with the addition of Tibet in the upcoming expansion. Three of my five most recent games have been there:
1. Zunist Hindu Kush Empire
2. Zoroastrian "Parsi" Gujurat
3. Christian Deccan Empire
I'd recommend playing a Buddhist or a Jain. Playing a Hindu is very similar to playing a reformed Pagan; it's fun but not especially novel if you are already familiar with the European experience. Farming technology and designating heirs on Buddhists is loads of fun, and Jains have an easy time smoothing over internal troubles.
If you're up for a challenge, converting to an obscure religion and then trying to spread it over the subcontinent in a great challenge. The Dharman Holy Orders are very powerful and you'll essentially be isolated from potential allies abroad; you've got to be opportunistic with your expansion and manage your internal affairs carefully, as even one civil war can result in the loss of land to outside sources. My top recommendations for this are Nestorian Christianity, Ibadi Islam, and Zoroastrianism.
On the whole, India actually functions a lot like a micro-Europe, which many players don't seem to realize. You'll still be doing most of your expanding using big claim wars, and the presence of non-Dharman religions is really rare in the first three start dates.