Yes it does have a folding charging handle. Does that make it 7.62?
Battered up Indian. Got to be the crudest FALs made.Interesting practice I've seen in a couple of magazines are pics of one of these guns fastened to the soldier holding it, with a chain.
Grizz
It's an FN 1A1, made by the Ishapore Arsenal in India. Unlicensed, reverse-engineered clone of the British L1A1.
All military surplus FN FAL rifles are 7.62x51mm, which is for all intents and purposes the same thing as .308 Winchester, though I have seen these rifles have problems running commercial .308 ammo.
It has no rarity whatsoever, lots of them came in just before the design was prohibited.
Indian 7.62. Not rare, (in Canada). Proof of orgin is in the markings. Does it say "Rifle 7.62 mm 1A1" behind the charging handle? Look hard as they tend to wear off. Most likely a 12(5) Rifle, a few inches are 12(3) no reason for this just government baffoonery. Hope this helps.