Well I'm also Indian but there is no know flag I too feel pain
but Samhayne has explained the reason

Quote Originally Posted by Samhayne View Post
Hey guys,

As a bit of perspective, I believe when last we looked that Arcane Legends had been downloaded in something like 200 countries. That's a lot! When we put in the country banners we chose the top 20 that had the most population. While we'd love to do any and all flags, there are implications to pumping too many textures into the game (memory and performance implications and the like). We would prefer to save that future memory real estate for expansions, new vanities, armor, weapons and the like.

At this time we don't have plans to add additional country flags. Thanks very much for your understanding.