The above photo is of a new rifle from Indian Ordnance Factories. Enfield aficionados will recognize it as the Ishapore Enfield Rifle 2A1 with a modern sniper stock, scope and bipod.
The Ishapore Rifle 2A1 is based on the Lee-Enfield SMLE Mk. III and is chambered in 7.62x51mm.
More information at Indians For Guns.com
[ Many thanks to Moa for emailing me the link. ]