Instagram is pretty huge in India already. It has about 6M monthly active users and is installed on almost everyone in my age group's (25-35) phones.
Snapchat on the other hand, most people won't know about it. However, I bet its drastically going to change in two years. Whatsapp is basically an SMS replacement - it lacks media rich features and as mobile internet speeds improve in India, people will gravitate towards apps such as Snapchat.
I am in same age bracket. They barely know Instagram. It used to be facebook all the time now Whatsapp has taken over it. Why do you consider whatsapps lacking in media. You can upload photos, videos. If they allowed documents it would have been better.
Maybe our social circles are different :). Snapchat has high resolution pictures & videos, filters, adding captions, adding emoji to pictures, drawing stuff on it. Whatsapp photos and videos functionality is just barely better than MMS.
Snapchat on the other hand, most people won't know about it. However, I bet its drastically going to change in two years. Whatsapp is basically an SMS replacement - it lacks media rich features and as mobile internet speeds improve in India, people will gravitate towards apps such as Snapchat.