If best Indian player in IPL is taken into account, it is of course Suresh Raina. This is the format of the game which suits Raina as well as he has better control of those slog shots as well as that in - out shot over cover. He can free his arms from the very first ball he faces and being a good fielder is like a cheery on top.
But the fact cannot be denied that Dhoni who comes down the order of 4, 5 or sometimes 6 even has somewhere runs almost close to Raina which means that whenever team was in bad or crucial situation, he has given his contribution at it's best.
This was only when you consider the batting side.
As per bowling is concerned, definitely my first choice will always be Amit Mishra. After all taking 3 hat tricks isn't an easy task. You really need some serious talent to graspthose hat tricks.
He has also picked a lot of wickets and is on the top 3 position.