Yes, the organisation is proscribed in India and in several other countries, including the United States and New Zealand. The proscription here will align the UK with the emerging international consensus.
It is important, in the context of this order, to state that the group is also known to target areas popular with tourists. A shooting incident in Old Delhi wounded two Taiwanese tourists in September 2010, and there was an unsuccessful attempt to detonate an explosive device at the scene. The organisation has also publicly threatened to attack British tourists, so it clearly poses a threat to British nationals in India.