I believe the Indian Prime Minister Narendra Modi is basically extending lockdown in India in order to save more lives, even at the expense of the country's fragile economy. As long as more cases are being recorded, I don't think the lockdown can be totally removed. On May 4, India started another phase of lockdown in a bid to break the cycle of infection of the disease.
However, we can't say whether the lockdown has been very effective or not since there are reports that India is not carrying out enough tests. The effectiveness of the lockdown can only be determined if the country is carrying out enough tests. Although the third phase of the lockdown will last till May 17, it is only if the curve of the infections is flattened that India can completely remove the lockdown.
Also, India may decide to open its economy if the impact of this lockdown becomes so huge that it cannot cope with it anymore.
It is not quite a known will lockdown that will end in India. Phase 1 of the lockdown ended on April 14. Phase 2 has also been ended on May 3 however, phase -3, the extension of 2 weeks has beeen announced and being carried out further, but the Prime Minister has not come out yet to announce if that will be extended or not.
One thing that everyone can agree on is that these lockdowns have been working in India. The Prime Minister acted early to save the lives of his citizens, and the numbers show that he did just that. As the lockdowns occurred, the number of cases that doubled went down, and compared to other countries; they have a low rate of contractions and deaths.