According to advertisements running on Star Sports / Star Cricket, Star Sports 2 will be launching soon in the subcontinent. It's highly unlikely to a new rather, rather ESPN India will rebrand as Star Sports 2. In the rest of Asia "ESPN" rebranded as Fox Sports Asia due to ESPN parent company exiting the 50/50 Joint venture and Newscorp operators of Fox/Sky/Star Sports increasing their 50% stake in ESPN Star Sports to 100%.
ESPN will reenter the Sports broadcasting business in Asia after consolidating their other businesses in the region and after the completion of the "non-competitive" clause which spans 4 to 5 years in the event of the joint venture ending. So ESPN will likely reenter this market after 2017 or 2018.
With the sale and rebranding of ESPN in other regions of Asia to Fox Sports, India's Star Network was weighing the options of rebranding ESPN India to either Fox Sports India or as another Star Sports channel. It looks like the decision has been made and ESPN India will become Star Sports 2 and ESPN HD will relaunch as Star Sports HD on the same day or down the line a few days/weeks later.
It should be said that more India focused sports will become increasingly become available on Star Sports 2 owing to the regionalisation of Fox International Channels. There is nothing that our local pay television operators can do about this since, sports telecast rights are so complex & prevents our pay operators from securing Fox Sports Asia into this region.
There are some rumours that Star Sports 2 maybe a separate channel altogether but it's highly unlikely since it is increasingly becoming clear that ESPN India would be relaunched as Star Sports 2.