I assume the aircraft is a N reg aircraft, for N reg aircraft you will not need any DGCA license as long as the aircraft remains N reg, when the aircraft is registered to a VT registration you will be required to get a FATA which will allow you to fly the Indian aircraft when in India. On a side note the registration to VT can take a couple of months so you will have to learn to be patient when dealing with the DGCA. Good Luck