Because of the ever growing lack of .com and .net domain names, people and companies are using Country Code Top-Level Domains (ccTLD) to make themselves stand out. An example could be using India’s country domain extension, .in, to make great names like:
Not to mention if you live in Indiana.
But that’s where a small problem could begin. Google (and other search engines) will automatically think your website is for India.
Below is a video of Google’s Matt Cutts answering a question about why you can’t switch the location in Webmaster Tools (Well, he never really answers the question, but he does give some decent information). So if you are thinking of doing this, watch this video FIRST.
As I said, he doesn’t really answer the question, but I did find something very interesting in what he said.
He said “at the moment” the ccTLDs are registered more in that country, so that is why they don’t let you specify.
If I am hearing that correctly, that could mean that in the future, you will be able to make the change if more people outside the country have that extention than the people in it.
It already happened to .co (Columbia).
So it’s up to you, just go in now knowing what you may be up against.