Hi! That is a tough question to answer in only 250 words!
So I certainly don't have an "answer" as to what they are looking for with that question. If you can, see if they say anything more about criteria for the scholarship or see if you can talk to someone who's a past recipient to get their advice.
But generally, I'd say it sounds like they're looking to understand your short-term and long-term goals and how they demonstrate a commitment to develop India. I think the piece about how Stanford can help you do that is much less important and not really all that relevant here. I think they also want to know about your potential to be a leader, so perhaps offer an example or two of how you've demonstrated leadership qualities in the past. When it comes to talking about your goals, be as specific as you can, and make sure that they are logical and connected to your current experience too. They'll want to see that you have high aspirations but also that you're thinking about your career path in a practical way.
Good luck!!