1) My CPL expires next year in September. Can I renew it this year (more than 1 year in advance)?
You can do flying for CPL renewal 6 months in advance and you just need to do FAM Flight, GFT by DAY and GFT by NIGHT.
3) I would like to do A320 rating. Does my Indian CPL Multi Engine Instrument Rating need to be current before I go for type rating?
Do I need NOC before the type rating or an approval of the syllabus?
Can I do A320 rating if I have a current CPL with Multi Engine Instrument Rating of a contracting ICAO state like Canada?
No need for Multi engine rating to be current, you just need multi endorsed on you license. No need for NOC.
5) I would also like to ask if there would be any upcoming exam/selection for A320 TR CPL holders in Indigo Airlines anytime soon.
Anytime soon cant say much about it but in the long run A320 Type rating will help as Air asia comes up and there are huge orders by GO and Indigo as well. As Indigo will clear the backlog by next year Feb - March there are chance they might hire rated guys by year end.
P.S - Why not opt for B737 type rating. Need any other help can inbox me.