The jam is open to everyone, although to be eligible to collect cash prizes (if any), you would require someone in your team to have an Indian Bank account.
There are no engine requirements, you can use whatever works for you, but a web-gl build is preferred as more people get to play your submission easily, using engines that produce large executables which are large in size can be cumbersome for people - to download, play and rate your game. Imagine yourself in their shoes having to download a 2GB zip file or play a game online. itch.io also has an upload limit of 2GB the last I checked.