It is a strategically risky move for Facebook to take an active role in shaping India's political landscape. I imagine that the Indian population might object to American companies deciding what is and isn't appropriate to discuss.
Inciting ethnic violence was one of the official reasons why TikTok was banned in the country, so surely nobody can object to applying the same Indian standards to Facebook communication, right? Not to mention India already has hate speech laws, so I don't see how Facebook enforcing them on their platform would be anyhting else than complying with... Indian law. https://en.wikipedia.org/wiki/Hate_speech_laws_in_India
Source? Tiktok ban was a geopolitical play due to recent India-China tensions and the reason given was "national security". Here's the official press release: https://pib.gov.in/PressReleseDetailm.aspx?PRID=1635206