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My usual reference is The Book of World Horoscopes by the late Moon Moore, published by Ray Merriman's Seek-It Publications.  Mr. Moore uses the January 26, 1950 (midnight, Delhi India) date for the birth of the Republic of India.  One could also use the August 15, 1947 chart for Indian independence, although at that point India was still considered a "dominion" under the British commonwealth.  

Like Moon Moore, I prefer the 1950 Republic of India chart.  First, it makes sense to use the chart that shows the date India became a nation and established its own identity.  Second, the chart makes more sense (but you all know how I hate to speculate on a chart because it "makes sense"!!).  

The 1950 chart has the Sun in Aquarius, where the 1947 chart has the Sun in Leo (like the chart for Pakistan, which was declared independent by Britain on the same day).  The 1947 chart for India and for Pakistan have a stellium of five planets in Leo, including an exact conjunction of Saturn and Pluto (tests, challenge, death and rebirth) flanked by Mercury on one hand and the Sun and Venus on the other.  The struggle for rulership throughout Pakistan's history can be seen in this Leo stellium (Leo rules royalty and the nation's leaders).  The Leo stellium is squared by Uranus, planet of rebellion and revolution, creating constant changes and reversals in the nation's leaders.

India on the other hand is a fairly stable democracy which is more clearly demonstrated by the triple conjunction of the Sun, Jupiter and Venus (the three benefics) in Aquarius in the fourth house of the people.  Aquarius has a thirst for democracy and social justice, and India has shown great progress since becoming a Republic in the field of social democracy,  Libra is rising the chart, reflecting the good relationships India has maintained with most of its neighbors (also seen in the Jupiter (abundant) /Venus (social relations) conjunction in the chart). 

I'm supposed to be writing the December Skywatch tonight so I'll just touch on this today.  Please leave comments if you have any thoughts or ideas on these two charts!