I am pretty sure (heard from a semi-reliable source)that the largest caliber a "civilian" can own in India is a .32, which is probably the rational behind the caliber choice
Still, it seems like a step in the right direction assuming that Indian laws won't persecute anyone who actually uses one of these for legitimate self-defense.
A .32 LCP would be an excellent choice it seems, for the Indian woman who needs simple protection she can take anywhere, and I bet Ruger could get the Indian people a much much lower price point than 2K.