Basically, India is about to have a number of state elections during the beginning of this year. Voting in two states, Goa and Punjab, will occur on February 4st. Results will be given on March 11th for the both elections (sources: http://www.ndtv.com/india-news/punjab-polls-2017-voting-to-be-held-on-february-4-results-on-march-11-1644935 , http://www.ndtv.com/india-news/goa-elections-2017-voting-to-be-held-on-february-4-results-on-march-11-1644996) .
There are three major parties in competition in both states: AAP, BJP, and Congress. You could do a market asking which party will have a cm (cm : chief minister) in either of those states. Thus, it could be a linked contract markets with 4 yes/no options (AAP, Congress, BJP, 4th front) on which party will have the cm of either goa or punjab on march 11(or by the end of march).
Now why these two races would be interesting? Mainly because they would be three way races which are expected to be nail-biters since Indian media appears to be unsure who they think will win either state. Thus, there is definite volatility. Polls have also shown contradictory results adding to the confusion.