My understanding is that although at the moment this only affects people trying to access a blogspot.com address from İndia, it is being rolled out so that there will be country specific blogspot addresses around the world eventually.
This is what Google says about this change from an SEO point of view:
"After this change, crawlers will find Blogspot content on many different domains. Hosting duplicate content on different domains can affect search results, but we are making every effort to minimize any negative consequences of hosting Blogspot content on multiple domains.
The majority of content hosted on different domains will be unaffected by content removals, and therefore identical. For all such content, we will specify the blogspot.com version as the canonical version using rel=canonical. This will let crawlers know that although the URLs are different, the content is the same. When a post or blog in a country is affected by a content removal, the canonical URL will be set to that country’s ccTLD instead of the .com version. This will ensure that we aren’t marking different content with the same canonical tag."
Which I take to mean that in most instances, it shouldn't make any difference. However, as they are initially only doing this for India, hopefully any glitches that are found will be resolved before it goes global.