Is it a good idea to setup an offshore company as an individual and then trade Forex market in the name of this company?
That depends on your alternatives, if you can't trade forex under your personal name it's a way to get around it. Now again you need to look into the costs and time involved, and check wether it works for you. Be careful about the MNA of the corporation you set up, while carribean corporations are mostly good for financial activies, UAE's are not, you would need to register your activity as something else than "trade forex" in the UAE to be able to set it up as well the attached bank account. But once it's up and running you can open a trading account and fund it through the UAE company.
So it's not that the Nifty doesn't have the liquidity it's that it does not setup enough times a day for you; those are two distinct concepts. I trade crude (CL).
nifty liquidity is not as good as CL and ES.it's a six hour market. and its true that I don't get trading setup in nifty. Indian commodity future market is good.
n As I have previously expressed very few traders need the liquidity ES offers. The CL future (as opposed to spot) does not have even one tenth of the liquidity ES offers. The Nifty probably has more liquidity than you need and more than CL. The setup question is a different issue and may very well be a valid point. Only you can determine that.