The nature of forex trading is such that it can be perceived as gambling and made illegal in some countries. We are fortunate that this is not the case in India and many people are quietly making 1000’s on a daily basis.
Although forex trading itself is not illegal in India it can be difficult to profit from the limited currency pairs that you are allowed to trade. The Rupee currency of India is highly protected by the Royal Bank of India and exchanging it for other currencies is highly restricted. They have been more lenient with these laws recently as to aid the economy by introducing the financial markets, but the rupee is not a volatile currency so it can be hard to profit.
The forex market does not change wherever you are in the world, it still has trillions of dollars traded on it every day and it is still possible to trade 24 hours a day 5 days a week. There is no reason why Indian residence cannot take a piece of this action and in fact many of them are. Many Indians are joining the global financial market every day.