Press Release: November 14, 2020
PUBG Mobile developers have announced that they will launch a new game called PUBG Mobile India to cater to Indian players. PUBG Mobile was banned back in September by the Indian government and around the same time, PUBG Corporation had announced that it will no longer authorize the PUBG Mobile franchise to Shenzhen-based Tencent Games in India. While the team had announced that it would terminate access for users in India starting October 30, the game is still playable for several people who had it installed on their Android and iOS devices.
PUBG Corporation has announced it is preparing to launch a new game called PUBG Mobile India that has been "created specifically for the Indian market." The new game will maximize data security for its players and adhere to the local regulations, the announcement said. PUBG Corporation states there will be regular audits and verifications on the storage systems that store the personal information of Indian users in order to make sure that the data is kept safe.
If PUBG Mobile is working from the day it was banned in India that is 2nd Sept 2020 then it is expected to come in the New Year celebration. And PUBG will not leave any chance to get banned by Indian policies again.
So as per my guess, PUBG Mobile India will Release on New Year 1st Jan 2020. If possible, they may launch the game sooner and later update the rest of things in the game.