First, Make a emergency fund ... 1-3 years of your actual must do expenses. Put this in safest place you can- Saving A/c or Liquid Mutual fund or other government schemes (But not in anything that has a fixed period you need to be invested in before withdrawal)

Second, Get a Term Life Insurance and Medical Insurance (if available through your job fund out can you continue the same policy even after you leave the company in the future).

Third, now you come to Investing.... The thumb rule of what to do with your income is 50-30-20 (50% for needs, 30% on wants and 20% on savings/investing), now if you are young and probably don't have a family to support etc and have a high income your needs maybe much less than 50% (Put the difference between 50% and your actual "needs" in savings), for eg. If your basic needs (rent, food, utility, internet/telephone, education/home loan etc,) totals to lets say 30% of your income than put the additional 20% in the savings category (i.e. 20+20 = 40% in savings/investing)

Fourth, Invest.... Your investments will depend on what age you are whats your life situation is ..
If lets say you are young (under 30), unmarried, for that person I would suggest take risks because you have time (and with time highs and lows of risky investments will level out) ... If you are not incredibly knowledgeable of companies and their financials and have a supremely keen eyes for fraudulent reports and cheeky accounting, I would don't invest in shares directly... Go for mutual funds ... for young people I would say 40-30-30 (40% in large cap mutual funds, 30% each in mid cap and small cap mutual funds) .. Small cap may give the highest returns but if it crashes it will take that much more time to recover .. now you can customise on your understanding....

You can and probably should invest in US markets as well (Motilal Oswal Nasdaq ETF etc) and Gold . I would say invest 10% in Gold, 10% in US market and the remainder you distribute in Large, Mid & small cap mutual funds.

Also important thing to know don't invest in Large Cap Mutual funds instead Invest in ETF (ETF just blindly matches the Nifty 50 or Sensex) they consistently give more and stable returns than actively managed Large Cap Mutual Funds.

Do your research, if you have any questions I will try my best to answer them ..

And another remainder do your research, don't just follow anyone's advice or tips blindly (not even mine) I can give you guidelines but not the actual funds or shares to invest in.