I flashed Global (IM) ROM fastboot v126.96.36.199
So that I could get root
I was on Global India (IN) ROM v188.8.131.52 with no root from fastboot ROM v184.108.40.206
They are pretty much identical.
Major difference I saw:
1. PayTM and Amazon app is installed by default in IN ROM
2. Red light notification in rear display works on latest Indian ROM (v220.127.116.11) but such an option does not exist in the latest Global ROM v18.104.22.168
There is a notification but it seems to be limited and definitely not the red dot.
Honestly I feel the Indian ROM is really good. The red dot is a plus plus really but I'm afraid root would be an issue on the Indian ROM as there are more fastboot ROM's available to the owners when Global ROM (IM) is concerned.
Xiaomi.eu's ROM based on China (CN) has everything and more but I didn't quite like the MiUi dialer and MiUi Contacts app.
Honestly I can't remember if the red dot notification worked on this ROM.