There's nothing "localized" or exclusive to India about RISC-V, it's simply the most prominent open ISA at present.

Used to be instruction sets were corporate (IBM, DEC, Burroughs etc), seeing one mandated by a country really isn't that different

China already did that decades ago. They initially choose MIPS with their LoongSon processors in 2000s, and pivoted to arm processors with the mobile chips wave later with Allwinner and Unisoc. They had supercomputers running with their own MIPS cpus too.