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Indian Economy - Understanding the basics of Indian economic system
India is a republic because:
Its head of the state is elected for a fixed period
There is a parliamentary rule
It is completely free
It prescribes democratic government
India is called a republic because of the applicable definition of a republic: a form of government in which representatives are entitled to act on behalf of the people whom they represent which mean its head of the state is elected for a fixed period. And in India it is relevant sort of structure. And the "front cover" of constitution being the preamble describes India as a "Sovereign Socialist Secular Democratic Republic". Hence option 1st is correct.
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