Interesting list of changes
Going through the short list of changes mentioned in the article, some of these could have either no effect at all or massive ones, depending on how they would be enforced.
• Allowing third—party app stores to be sold on Google Play;
This would probably not go very well if those stores actually sell apps, because that would be an in-app payment for digital products, and Google has terms restricting payment for those if the app is in their store. Enforcement of this would be likely to require some modification to that restriction or nothing would happen. Someone could probably put FDroid in the Play Store, though, as all those apps are free. I wonder if that's a good thing.
• Allowing side-loading of apps;
Google will argue they already do that. If India means that they'll have to remove some of the restrictions that make sideloaded (and for that matter any user-installed) app subject to restrictions that system apps don't have, they'll need to clarify this.
• Giving users choice of default search engine other than Google when setting up a device;
I thought Google already had to do this somewhere, but maybe I'm still thinking of Microsoft's browser box and assuming someone put one on Google. Either way, useful but small.
• Ceasing payments to handset makers to secure search exclusivity;
That could give us some interesting results, but since they already have them over a barrel with Google Play Services, maybe not as much as we'd like because they could integrate it into that and charge companies less than they were.
• Not denying access to Android APIs to developers who build apps that run on Android forks.
This also requires clarification. I wonder if that means they'd have to open source some of their proprietary services, or just avoid breaking them when sideloaded (which usually doesn't work).
I have a feeling nothing will happen from any of these. Google will appeal somewhere or convince the current Indian government that they could help with their attempt to cancel out democracy in return for this going away. It would be interesting to watch Android change if they did have to change for this.