EN-IN is already becoming standard - for example, Electronic Arts, Microsoft (Vista and later), and some other big companies now provide a separate "EN-IN" section of their websites. You can actually choose an English (India) language in Windows Vista and 7 in the regional settings.
However, I suspect that if English (India) does become a globally recognized formal language with it's very own keyboard layout and a rigorous dictionary, at least one of our neighbours (guess who) will have a problem with it