Good move and there is huge growth potential considering .in (currently around 1.7 million) which is really very low per capita (if you look at domain ownership in US or Germany). We could project that number and maybe in 20 years hit 20 million .in domain names.
I wish the .in registrations crosses 2 million at least by this december.. I hope .in registry really celebrate the 2 million registrations in a big way