There is no reason for them to hang around with such a big fine, since they make so little money India. This is like how google mostly pulled out of china, the costs and risks just were not worth the benefits.
as far as I know, India is one of the countries where google dominates in search. Which is not the case in China, google is not a major search engine in China. I just can't imagine they pulling out of India.
They just recently had heart warming google advertisements in TV which is very rare for google to do.
The ad is probably ran because of the government...they want to build some support with the people so they are treated better.