Here are the steps to make this change in SAP S/4 HANA also on SAP ECC.
Go to T-code OY01 - Change View “Country/Region Global Parameters detail
Select Country code “IN” and hit the “Display/change” button on RHS
Then make the changes to the values in “Name” and “Country/Region name” and hit save,
Save it on a transportable request, it will be a customizing request. Once you have the necessary approvals to move to QA, Pre prod with appropriate testing and approval you may move it to production systems as per the your process.
You can validate the changes in table T005T in SE16 view.
Thank you so much for taking time to read through this blog.